Question

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

Answer 1

I Change It To D.

Answer 2

Am I Right?

Answer 3

2975*1.04^2.5 = 3281.48

But, technically, since the interest is not compounded till the end of the year, you might get

2975*1.04^2 = 3217.76

Since that is not listed, I'd go with B

So, how did you get D? That's over double the initial amount. Not likely!

Answer 4

Mine says 3.5 years

Answer 5

@Fake Name some people have different test

Answer 6

Can some one please give me all of the answers

Answer 7

SamMEEe i need them please

Answer 8

thanks darling