3. Rhonda deposits $\mathrm{\$}5,600$ in a savings account that pays $1\frac{1}{2}\mathrm{\%}$ interest, compounded semi-annually. Round each of your answers to the nearest cent.
a. How much interest does the account earn in the first 6 months?
$$\begin{array}{rl}I& =(5600)(0.0150)\left(\frac{6}{12}\right)\\ & =42\end{array}$$
b. What is the ending balance after 6 months?
c. How much interest does the account earn in the second 6 months?
d. What is the balance after 1 year?
e. How much interest does the account earn in the first year?
4. Stephanie signed up for a direct deposit transfer into her savings account from her checking account. Every month, $\mathrm{\$}125$ is withdrawn from her checking account. The interest in this account is $1.55\mathrm{\%}$, compounded monthly. How much money will be in the account at the end of 5.5 years? Round your answer to the nearest cent.

Step 1 ：$I=(5600)(0.0150)\left(\frac{6}{12}\right)$

Step 2 ：$I=42$

Step 3 ：$\text{Ending balance after 6 months}=5600+42=5642$

Step 4 ：$I=(5642)(0.0150)\left(\frac{6}{12}\right)$

Step 5 ：$I=42.315$

Step 6 ：$\text{Balance after 1 year}=5642+42.315=5684.315$

Step 7 ：$\text{Interest earned in the first year}=42+42.315=84.315$

Step 8 ：$\text{Future value of Stephanie's account}=172228.19099601722$

Step 9 ：$\boxed{{\displaystyle \text{a. }42.00}}$

Step 10 ：$\boxed{{\displaystyle \text{b. }5,642.00}}$

Step 11 ：$\boxed{{\displaystyle \text{c. }42.32}}$

Step 12 ：$\boxed{{\displaystyle \text{d. }5,684.32}}$

Step 13 ：$\boxed{{\displaystyle \text{e. }84.32}}$

Step 14 ：$\boxed{{\displaystyle \text{4. }172,228.19}}$