Answer:
$4956.23 approx
Step-by-step explanation:
Given data
P= $4860
R= 4%
T= 6 months = 0.5 years
Applying the compound interest formula we have
A=P(1+r)^t
Substitute
A=4860(1+0.04)^0.5
A= 4860(1.04)^0.5
A=4860*1.0198
A=4956.228
Hence the balance will be $4956.23 approx
