Therefore $754.94 will be in account after 15 years.
Explanation:
Given , Sarah opens a saving account that has a 2.75% annual interest rate , compounded monthly. She deposits $500 into the account.
P = $500, r = 2.75% = 0.0275 , t = 15 years and n= 12


=$754.94
Therefore $754.94 will be in account after 15 years.