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Sumi​ Kato's savings account has a balance of ​$2508. After 24 years what will the amount of interest be at 3.5​% compounded​ annually? A.​$3,218.59 B.​$6,019.20 C.​$3,207.59 D.​$3,224.59
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Sumi​ Kato's savings account has a balance of ​$2508. After 24 years what will the amount of interest be at 3.5​% compounded​ annually?

A.​$3,218.59
B.​$6,019.20
C.​$3,207.59
D.​$3,224.59

User Warsong
by
7.1k points

2 Answers

3 votes

Answer:

Explanation:

100+3.5=103.5

103.5÷100=1.035

1.035×2508=$5726.58

User Sagar Chakravarthy
by
7.2k points
2 votes
2508(1+0.04)^24 = 6,428. trust me, found it to 6,019.20.

b.
User Wared
by
7.1k points
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