Question

A savings account accrues interest at a rate of 3.0% yearly. If someone opens an account with $2,500, how much money would the account have after 5 years?

A.
$2,575.00
B.
$2,813.77
C.
$2,898.19
D.
$2,985.13

Answer 1

$2,898.00

Explanation:

FV=2500(1.03)^5

FV=2500(1.159274)

FV=$2,898.00

Answer 2

It’s either b of i I think if not I hope you pass