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.

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posted by Agala
3. It’s B!

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posted by Melisa

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