A bank features a savings account that has an annual percentage rate of r = 4% with interest compounded semi-annually. Romina deposits $7,000 into the account. nt The account balance can be modeled by the exponential formula S(t) = P(1 + 7 )™, w n the future value, P is the present value, r is the annual percentage rate, n is the number of times each year that the interest is compounded, and t is the time in years. (A) What values should be used for P, r, and n? P = r = n = , where S is (B) How much money will Romina have in the account in 8 years? Answer = $ Round answer to the nearest penny. (C) What is the annual percentage yield (APY) for the savings account? (The APY is the actual or effective annual percentage rate which includes all compounding in the year). %. APY = Round answer to 3 decimal places.

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A: Use the formula as A=P1+r100t where, A=AmountP=Principalr=ratet=time

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A: Given Principal amount p = $3500 Interest rate r = 2.75% = 0.0275 Time t = 6 years

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A: Rate of interest for 1 week = (4.5%)/(Number of weeks) = (4.5%)/52