$3500 deposit earning 6.75% compounded monthly, after 6 months a. $3,619.80 b. $3,743.70 c. $3,748.22 d. $4,860.36 show your work you

Answer is A.                                            A=3500(1+0.0675)12×05.                           A=3500×1.005625 to the 6power.       A=3500×1.034228.                                A=3.619.80

a. $3,619.80  

Step-by-step explanation:

The formula for compound interest is

, where p is the amount of principal, r is the interest rate, n is the number of times per year the interest is compounded, and t is the number of years.

The principal is $3500; the interest rate is 6.75% = 6.75/100 = 0.0675; since it is compounded monthly, n is 12; and t is 0.5:

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step-by-step explanation:

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