Answer
Error :- Rate of interest.
Work Step by Step
The student substituted the wrong interest rate.
Rate of interest $r=3.5\%=0.035$.
Hence, the correct calculations are
$A=500(1+\frac{0.035}{4})^{4\cdot 2}$
$A=500(1.00875)^{8}$
$A=536.09$
Algebra 1: Common Core (15th Edition)
by Charles, Randall I.
Published by
Prentice Hall
ISBN 10:
0133281140
ISBN 13:
978-0-13328-114-9
Chapter 7 - Exponents and Exponential Functions - 7-7 Exponential Growth and Decay - Lesson Check - Page 463: 8
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