Question

Urgently need help!!! I will mark the best answer as BRAINLIEST!!!!!

Answer 1

C. 16.4

Step-by-step explanation:

The formula to apply here is;

A=P(1+r/n) ^nt where

A=final amount

P=starting amount

r=rate of interest annually

n=number of compounding per year

t=time in years

Given ; P=$500, A=$750 , r=2.5%=0.025 , t=?,n=1

Substitute values;

A=P(1+r/n)^nt

$750=$500(1+0.025)^t

750=500(1.025)^t

750/500=(1.025)^t

1.5=(1.025)^t

log 1.5 =t log (1.025)

log 1.5/log 1.025 = t

16.4 =t

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Compound interest formula :brainly.com/question/12148233

Keywords : bank account, interest per year, value of account, years

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