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John invests $2,975 at 4% interest compounded annually. What will be the balance in the account after 2.5 years? • $3,272.50 • $3,281.48 • $5,493.86 • $7,735.00

John invests $2,975 at 4% interest compounded annually. What will be the balance in the account after 2.5 years? • $3,272.50 • $3,281.48 • $5,493.86 • $7,735.00
asked 15.0k views
4 votes
John invests $2,975 at 4% interest compounded annually. What will be the balance in the account after 2.5 years?

• $3,272.50
• $3,281.48
• $5,493.86
• $7,735.00

asked
User Mvanella
by
8.8k points

2 Answers

2 votes

Answer:

A: $3,272.50

Explanation:

answered
User Derek Henderson
by
8.0k points
3 votes

2975✖️.04= 119

119✖️2.5=297.5

2975+297.5=3,272.50

answered
User Andreban
by
8.1k points
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