Answered

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which amount is closest to the balance of the account at the end of 2 years?

Which Amount Is Closest To The Balance Of The Account At The End Of 2 Years class=

Sagot :

Using the compound interest formula;

[tex]A=P(1+\frac{r}{n})^{nt}[/tex]

where p is the principal

r is the rate

t is the time

n is the number of time it is compounded

P = $2500

r = 0.065

n = 1

t = 2

substitute into the formula

[tex]A=2500(1+\frac{0.065}{1})^{1\times2}[/tex][tex]undefined[/tex]

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