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

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

anonymous · Answer

Use the compound interest formula, A = P times the quantity of 1 + r over n where the quantity is to the n t power. , to find the following amount of money after the given amount of time:

anonymous · Answer

Since it's compounded twice a year that means you'll have to multiply 3.9 4 times to the original amount.

anonymous · Answer

I still don't understand.