Monica deposited $760 into an ordinary annuity after each quarter for 2 years at 4% interest compounded quarterly. Determine the (a) future value of each account and (b) the total interest amount earned.

FV=$823.004

Total interest earned=$63.004

Step-by-step explanation:

FV=PV×(1+i/n)^nt

PV=$760

I=4%

t=2 years

n=4

FV=760+(1+0.04/4)^4*2

=760+(1+0.01)^8

=760+(1.01)^8

=760+(1.0829)

=823.004

FV=$823.004

Total interest amount earned

=FV-PV

=$823.004-760

=$63.004

dalila is incorrect. the whisker on the left is very long, going all the way out to 5. the whisker goes from 5 to 30, so it has a spread of 25. the rest of the box plot values are closer together, so 5 is an outlier