Tessa has recently inherited $5400
, which she wants to deposit into an IRA account. She has determined that her two best bets are an account that compounds semi-annually at an annual rate of 5.2%
(Account 1) and an account that compounds daily at an annual rate of 3.6%
(Account 2).
Step 2 of 2 : How much would Tessa's balance be from Account 1 over 5.7
years? Round to two decimal places.