Question

Which answer is it? Plz show work

Answer 1

Your answer would be B

Answer 2

Answer:

C: $747

Step-by-step explanation:

To find the amount after compound interest, we use the formula:

$a = {p(1 + \frac{n}{100} })^{t}$

Where a is the result amount, p is the amount he deposited, n being the interest rate and t being the amount of years. Substitute these variables with the amounts in the question to get

$7200 {(1 + \frac{2.5}{100} })^{4}$

Input that into a calculator to get $7947.45281...

Next, subtract the original amount of 7200 and you will result with

747.45281 which is 747 corrected to the nearest dollar.