Math!

John invests $2,975 at 4% interest compounded annually. What will be the balance in the account after 2.5 years?

• $3,272.50****
• $3,281.48
• $5,493.86
• $7,735.00

Am I Correct?

  1. 👍 1
  2. 👎 0
  3. 👁 498
  1. see your other post in the related questions below.

    1. 👍 0
    2. 👎 0
  2. PUT THE WHOLE TEST

    1. 👍 2
    2. 👎 0

Respond to this Question

First Name

Your Response

Similar Questions

  1. Math

    Roman saves $500 each year in an account earning interest at an annual rate of 4% compounded annually. How much interest will the account earn at the END OF THE FIRST THREE YEARS? I think I am confusing simple and compounded

  2. algebra

    Tasha invests $5,000 annually at 6% and $5,000 annually at 8%. Thomas invests $10,000 annually at 7%. Which statement accurately compares the two investments if interest is compounded annually?

  3. Math

    A $4,000.00 principal earns 5% interest compounded annually. After 4 years, what is the balance in the account? A. $500,000.00 B. $4,862.03 *** C. $4,600.00 D. $20,250.00

  4. magh

    suppose you put money into teo different bank accounts. In account #1 you deposit $500 and you will be earning 6% interest compounded quarterly. in account #2 you deposit $600 and you will be earning 5% interest compounded

  1. Math

    1) A 3, 300.00 principal earns 4% interest compounded annually. After three years, what is the balance in the amount? 2) A 6,000.00 Annable earns 8% annual interest compounded semiannually (twice per year) after 35 years, what is

  2. math

    Huan deposited $850 into a collegesavings account earning 4.8% interestcompounded annually. He also deposited$850 into a second account earning 4.8%simple interest. He made no additionaldeposits. After 10 years, which account

  3. Business Math

    Marcus invests $8,000, at 8% interest, compounded annually for 15 years. Calculate the compound interest for his investment.

  4. math

    Karen opens a savings account with $1500. She deposits $100 every month into the account that has a 0.85% interest rate, compounded annually. If she doesn’t withdraw any money, what will the account balance be in 10 years?

  1. Algebra

    A $6,300.00 principal earns 6% interest, compounded annually. After 3 years, what is the balance in the account? a. $1,360,800.00 b. $7,503.40 c. $7,434.00*** d. $25,804.80

  2. differential equation

    If P(t) is the amount of dollars in a savings bank account that pays a yearly interest rate of r% compounded continuously ,then dP/dt=(r/100)(P) , t in years . Assume the interest is 5% annually ,P(0)=$1000 ,and no monies are

  3. math

    How much would you need to deposit in an account now in order to have $5000 in the account in 13 years? Assume the account earns 9% interest compounded semi-annually. Round your answer to the nearest cent.

  4. Algebra

    Show how you substitute the values into the formula, then use your calculator. *Use A = P(1+r/n)nt to find the amount of money in an account after t years, compounded n times per year. *Use I = Prt to find the amount of simple

You can view more similar questions or ask a new question.