Trella alcala deposited 1,950 in a new credit union savings account on the first of the quarter the principal earns 4.25 percent interest compound quarterly she made no other deposits or withdrawals
what was the amount in her account at the end of 6 months
what is the compound interest

The amount in her account at the end of 6 months is $1991.58.

The compound interest is $41.58.

Step-by-step explanation:

The compound interest formula is given by:

Where A is the amount of money, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per unit t and t is the time the money is invested or borrowed for.

In this exercise, we have:

What was the amount in her account at the end of 6 months:

This is a when t = 0.5 years.

So

The amount in her account at the end of 6 months is $1991.58.

What is the compound interest?

The compound interest is the amount subtracted by the principal. So 1991.58-1950 = $41.58.

He made a mistake on Step 3

Step-by-step explanation: He made a mistake on Step 3, he did not add and subtract correctly, [$171 + $52.45 − $18.50} is not equal to $241.95. It is actually 204.95. He can correct his error by trying to re-do his equation and see if he gets the same answer.

(I hope that was correct!) :3