Answer
The student didn't divide the interest rate by 100 (to get a decimal) before dividing by 4.
$536.09
Work Step by Step
$ A = 500*(1+(.035/4))^{4*2}$
$A=500*(1+.00875)^8$
$A=500*1.07218$
$A=536.09$
Algebra 1
by Hall, Prentice
Published by
Prentice Hall
ISBN 10:
0133500403
ISBN 13:
978-0-13350-040-0
Chapter 7 - Exponents and Exponential Functions - 7-7 Exponential Growth and Decay - Lesson Check - Page 458: 8
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