5. Milo Simpson deposited $860 in a new regular savings account that earns 5.5% interest compounded semiannually for 1 year. Calculate the a) amount and b) the compound interest. (2 points)

This is what i found “an explicit formula designates the nth term of the sequence, as an expression of n (where n = the term's location). it defines the sequence as a formula in terms of n. this example is an arithmetic sequence(the same number, 5, is added to each term to get to the next term).” i hope this you for what your looking for. can you plz mark me brainliest?