The total amount of Chandra's investments after 8 years is $110.03
Compound interest
The formula for calculating the compound interest is expressed as;
A = P(1+r/n)^nt
where
P is the amount invested = $75
r is the rate. = 0.048
t is the time =8years
n = 12 (monthly)
Substitute
A = 75(1+0.048/12)^96
A = 75(1.467)
A = 110.03
Hence the total amount of Chandra's investments after 8 years is $110.03
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