Regina deposits $3,500 in a savings account that pays 7 1/2% interest compounded semiannually.
a. How much interest does the account earn in the first six months?
b. What is the balance at the end of the first six months?
c. How much interest does the account earn in the second six months?
d. What is the balance at the end of the year?
e. How much interest does the account earn the first year?
f. How much interest would $3,500 earn in one year at 7 1/2% interest compounded annually?
g. How much more interest does Regina earn at an interest rate of 7 1/2% compounded semiannually than compounded annually?