Question 1115102
Assuming she deposits the $50 at the end of the month:
Future Value = 50{[[(1+(0.48/12))^(12*2)]-1]/(0.48/12)}
= 50{[(1.04^24)-1]/0.04}
= 50((2.563-1)/0.04)
= 50(39.075)
= 1,953.75