The interest that Joanna earned in the first two months is $4.26.
What is the interest earned?
Interest earned in the first month = future value - amount deposited.
Future value = amount deposited x (1 + monthly interest)
Monthly interest = 6/12 - 0.5% = $252.50
Interest = $252.50 = 250 = $2.50
Interest earned in the second monthly = future value of the first month + amount deposited x (1.005)
(252.50 + 100) x 1.005 = 354.26
Interest = 354.26 = 352.50 = $1.76
Total interest = $1.76 + $2.50 = $4.26
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