college algebra: A deposit of ​$40004000 earns 88​% annual interest.

[hoosierok]

A deposit of ​$40004000
earns 88​%
annual interest. Find the amount in the account at the end of 55
years and the amount of interest earned during the 55
years if the interest is compounded
​(a) annually ​(b) quarterly ​(c)​ monthly, and ​(d) daily.


​a) The amount in the account at the end of 55
years is ​$nothing
if the interest is compounded annually.
​(Round to two decimal places as​ needed.)

 

[Deleted member 4993]

A deposit of ​$40004000
earns 88​%
annual interest. Find the amount in the account at the end of 55
years and the amount of interest earned during the 55
years if the interest is compounded
​(a) annually ​(b) quarterly ​(c)​ monthly, and ​(d) daily.


​a) The amount in the account at the end of 55
years is ​$nothing
if the interest is compounded annually.
​(Round to two decimal places as​ needed.)

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[stapel]

A deposit of ​$40004000
earns 88​%
annual interest. Find the amount in the account at the end of 55
years and the amount of interest earned during the 55
years if the interest is compounded
​(a) annually ​(b) quarterly ​(c)​ monthly, and ​(d) daily.


​a) The amount in the account at the end of 55
years is ​$nothing
if the interest is compounded annually.
​(Round to two decimal places as​ needed.)

I suspect that the above was merely copy-n-pasted from your online assessment. I suspect that the corrected text would be as follows:

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A deposit of $4,000 earns 8% annual interest. Find the amount in the account at the end of five years, and the amount of interest earned over that time, if the interest is compounded (a) annually, (b) quarterly, (c) monthly, and (d) daily.

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Is this correct? If not, please reply with corrections. If so, please reply showing how far you've gotten in plugging into the compound-interest formula they gave you. (here)

Please be complete. Thank you!