Final answer:
To calculate the value of the account after 5 years, use the formula for compound interest. By plugging in the given values, Chris will have approximately $876 in the account after 5 years.
Step-by-step explanation:
To calculate the value of the account after 5 years, we can use the formula for compound interest: A = P(1 + r/n)^(nt), where A is the final amount, P is the principal (initial amount), r is the annual interest rate (as a decimal), n is the number of times the interest is compounded per year, and t is the number of years.
In this case, Chris invested $800, the interest rate is 2.2% (or 0.022 as a decimal), and it is compounded quarterly (so n = 4). Plugging these values into the formula, we get: A = 800(1 + 0.022/4)^(4 * 5).
Calculating this, we find that the value of the account after 5 years will be approximately $876.49. Rounded to the nearest dollar, Chris will have approximately $876 in the account after 5 years.