Barbara wants to restore her '66 mustang in 4 years. she puts $200 into an account every month that pays 4.5% interest, compounded monthly. how much is in the account after 4 years?

$10496.77

Step-by-step explanation:

We have been given that Barbara puts $200 into an account every month that pays 4.5% interest, compounded monthly.

To find the money in the account after 4 years, we will use future value formula.  

, where,

R = Regular deposits,

r = Interest rate in decimal form

n = Number of times interest in compounded per year,

t = Time in years.

Substitute given values:

Therefore, there will be an amount of $10496.77 in the account after 4 years.

1/4 because there is 4 grades.