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
8 answers
I Change It To D.
Am I Right?
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!
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!
Mine says 3.5 years
@Fake Name some people have different test
Can some one please give me all of the answers
SamMEEe i need them please
thanks darling
7 answers