Math!!! HELP

john invested $2,975 at 4% interest compounded annually. what will be the balance after 2.5 years.

i got this fr my answer $7,735.00

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  1. You are way off. There's no way your money is going to more than double at that rate and in that time.

    I don't know the formula for figuring compound interest -- but here's a start for the first year.

    I = Prt
    I = 2,975 * 0.04
    I = 119

    119 + 2975 = 3,094 at the end of the first year.

    Now do the same with the new balance.

  2. The Answers B. 3,281.48....

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    posted by Agala
  3. It’s B!

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    posted by Melisa

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