We need the actual question. I can write the compounded interest accrued value equation for this, but if no question about number of years the deposit is kept, there is no question to be solved. Please continue the formulation of the question. What is it we need to find? what amount of money she needs to collect?
The formula for accrued value with compounded interest would be written as:
with the information on the account, we can write it as:
but we cannot do anything with it unless you give:
1) the time to keep the account collecting interest,
OR
2) the total amount of money she needs to obtain.
What is the value of that new bicycle she wants?
Well, you have the equation needed. If you don't give me more info on what is needed, I cannot help you solve the equation. We need an extra piece of information.
The information now provided is that the person wants to keep the savings account for 2 years. So we use t = 2 in the equation above to obtain the answer:
At the end of the two years she will have a total of $832.32