What would my final balance be if i put $425 in the bank for 48 months with an interest rate of 4.75%? b.)$80.75 c.)$505.75 d.)$344.25 needed for test corrections by tomorrow. asap!

I see choice (A) is missing, so I am giving you two solutions for you to understand and decide which one applies:

(1) Final balance with compound interest - meaning every year you add the year's interest to the principal and earn interest on the increased amount, etc. This is the actual case in real banks:

principal amount is $425 at (annual) interest rate 4.5%

interest amount for 1 year $19.13

Now, use the formula for compound interest

total balance = principal*(1+interest rate)^year

So the amount after 4 years with compound interest should be $511.68

(2) the silly way: earn interest of $20.1875 every year and keep it separately (not earning additional interest). That'll make 425+4*20.1875=$505.75 which is answer (C)

so if your (A) matches my solution (1) then go with that. If not, choose (C).

yes, gavin is right.

step-by-step explanation:

gavin is correct. 

this problem is about converting 9% per year to how many percent per quarter. the rate is still the same. it only differed in the time period. so, through dimensional analysis,

9% per year  × (1 year / 4 quarters) = 2.25% per quarter

if he was asked to convert 9% per year to how many percent per quarter  compounded quarterly, then you will not simply divide by four. this is because compounding is not linear.

hope this , have a good day. c;