Answered

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Ashley received $2,500 on her tax rebate this year. She decides to invest it in a savings account that
earns 1.5% interest compounded monthly. If she leaves it there for 8 years, how much will she have in
her account?
Show your work
A=
p=
r=
t=
n=

Sagot :

jamyangnorzin

Answer:

2818.5

Step-by-step explanation:

p=2500

r=0.015

t=8

n=12

compound interest =p(1+r/n)^n×t

=2500(1+0.015/12)^12×8

=2500×1.127

=2818.5

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