Use the compound interest formula, , to find the following amount of money after the given amount of time:

Alexia has $4864.77 in her money market account currently. If the annual interest rate is 3.9%, and the interest is compounded twice per year, how much money will be in her account after 2 years?
A. $4,149.57
B. $5,244.22
C. $5,255.47
D. $15,733.31

Question

Use the compound interest formula,  , to find the following amount of money after the given amount of time: 

Alexia has $4864.77 in her money market account currently. If the annual interest rate is 3.9%, and the interest is compounded twice per year, how much money will be in her account after 2 years? 
	A.	$4,149.57
	B.	$5,244.22
	C.	$5,255.47
	D.	$15,733.31

kropot72 · Answer

$$A=4864.77(1+\frac{0.039}{2})^{(2\times2)}$$

anonymous · Answer

i got c? @kropot72

kropot72 · Answer

Good work! The correct choice is C.