Jose invests 3250 dollars at 6% interest compounded annually. What will be the balance in the account after 3.5 years?

Question

A. 3932.50 dollars
B. 3985.23 dollars
C. 4752 dollars
D. 5200 dollars

Answer 1

P = Po(1+r)^n

Po = $3250.

r = 6%/100% = 0.06

n = 1Comp./yr * 3.5yr. = 3.5 Compounding
periods.

Plug the above values into the given Eq
and solve for P.

Answer 2

I disagree with @Henry because thats not was the answer to the question that she gave give her more imformation bout the question u gave her something different and u suppose to step by step with her so she get the answer