Question

Madeline deposited $750 into an investment account that earns 1.5% interest compounded annually. If no deposits nor withdrawals are made, how much in dollars will be in the account after 15 years?

$1,687.50
$937.67
$918.75
$870.40

Answer 1

The answer is 918.75

Explanation:

1.5% of 750 = 11.25

11.25 x 15 years = 168.75

750 + 168.75 = 918.75

I hope this helps, I'm in 6th grade

Answer 2

The answer is 918.75 :)