# Math

Angela invests \$2,550 at 3% interest compounded annually. What will be the balance in the account after 1.5 years?

A. \$2,626.50
B. \$2,664.75
C. \$2,665.61
D. \$4,792.50

1. 👍 1
2. 👎 1
3. 👁 1,292
1. What do you think the answer is?

1. 👍 1
2. 👎 1
2. Bal=P(1+r)^y where Bal is your balance, P is your principal, r is the interest rate per year, and y is the number of years. So:
Bal=2550(1.03)^1.5
Bal=\$2665.61 ☺☺☺☺

1. 👍 9
2. 👎 0

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