Answer:
The amount is $275.3
Step-by-step explanation:
We can use amount formula
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]
where
A is the amount
P is money invested
r is interest rate
n is number of periods
t is time in years
we are given
P=200
r=4%=0.04
t=8
n=12
so, we can plug these values
[tex]A=200(1+\frac{0.04}{12})^{12\times 8}[/tex]
we can simplify it
and we get
[tex]A=275.3[/tex]
So,
The amount is $275.3
