Question

Find the balance in the account.

Answer 1

Answer:

$A = P(1 +\frac{r}{n})^{nt}$

P = 4100

r = 2.25% = 0.0225

n= 2

t= 12

$A = 4100(1 + \frac{0.0225}{2})^{24}$

   $= 4100 *1.01125^{24}\\\\= \ 5362.76$

Option a.