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How much is in a saving account that started with $500 and earned 7.5% compound interest for 2 years

How much is in a saving account that started with $500 and earned 7.5% compound interest for 2 years
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How much is in a saving account that started with $500 and earned 7.5% compound interest for 2 years

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User Austin Ezell
by
8.5k points

1 Answer

5 votes

Answer:

577.81

Explanation:

A = P(1 + (r/n))^n * t

A = 500 ( 1 + .075)^2

A = $577.81

answered
User Madhura Jayaratne
by
7.9k points
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