FINANCE

The value of the account after 8 total years of interest depends on what the initial value of the account was. Assuming the initial value of the account was $2,000, the value after 4 years of 8% interest compounded semiannually would be $2,802.40. With the new interest rate of 8.28%, compounded quarterly, the value after 4 additional years would be $3,664.90. This was found by using the formula A = P(1 + r/n)^nt, where P is the principle amount (initial value of $2,000), n is the number of times per year that it compounds (four times per year in this case), r is the annual interest rate (8.28%), and t is the number of years the money is invested for (4 years in this case). So, the value of the account after 8 total years would be $3,664.90, rounded to the nearest cent.