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2 years ago

DOPO

Mathematics

1 answer:

Nesterboy [21]2 years ago

5 0

Answer:

$144,843.5

Step-by-step explanation:

In this problem we are going to apply the compound interest formula

A= P(1+r)^t

A = final amount

P = initial principal balance

r = interest rate

t = number of time periods elapsed

Given data

P= $27,000

R= 7.25%= 7.25/100= 0.0725

T= 24

A=27000(1+0.0725)^24

A= 27000(1.0725)^24

A= 27000*5.364

A= $144,843.5

In 24 years her account balance will be $144,843.5

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