Dan deposits $2,500 in an account that earns an interest rate of 4% compounded annually. What is the balance in the account at t
he end of 10 years? A) $2,800.45 B) $3,112.85 C) $3,700.61 D) $3,935.58
2 answers:
I just finished taking the test. And the answer to this question is C) 3,700.61
A = P( 1 + r)t
A = $2,500(1 + 0.04)10
A = $2,500(1.4802)
A = <span>$3,700.61</span>
////////////C) 3,700.61////////////
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