Question

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

Answer 1

Explanation:

100+3.5=103.5

103.5÷100=1.035

1.035×2508=$5726.58

Answer 2

2508(1+0.04)^24 = 6,428. trust me, found it to 6,019.20.

b.