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Bowers Rose
04/13/2024 · Senior High School

A bank offers an investment account with an annual interest rate of \( 1.13 \% \) compounded quarterly. Amy invests \( \$ 3600 \) into the account for 2 years. Answer the questions below. Do not round any intermediate computations, and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. \( \begin{array}{l}\text { (a) Assuming no withdrawals are made, how much money is in Amy's account } \\ \text { after } 2 \text { years? }\end{array} \) (b) How much interest is earned on Amy's investment after 2 years?

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(a) After 2 years, Amy's account has approximately $3682.17. (b) The interest earned is $82.17.

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