You deposit $400 into an account that pays 2% annual interest compounded quarterly.
part a: write an exponential model that describes the situation.
part b: determine the value of the account after 5 years. round to two decimal places.

a.

A = 400 (1 + (0.02)/4)^4t    where t = number of years and A = amount after t years

simplifying that becomes

A = 400 (1.005)^4t

b  amount after 5 years is

400 (1.005)^(4*5)  = 400 (1.005)^20 =  $ 441.96

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$25

step-by-step explanation:

25 - 4.50 = 20.5

20.5 / 2 = 10.25

10.25 + 10 = 20.25

20.25 - 12.50 = 7.75

therefore the answer is $25 as shown as the first number.