Question

Sasha received a bonus check for $2,500. She is going to deposit the money into her bank account that receives 5.5% compounded annually. What is Sasha's account balance after five years?

Answer 1

$3,187.50

Explanation:

2500 * 5.5%= 137.50

137.50 x 5 (años) = 687.50

2500 + 687.50 = 3187.50

Answer 2

The amount Collin receives $3267.40 after 5 years .

Option C is correct.

Explanation:

Formula

Where P is the principle , r is the rate of interest in the decimal form and t is the time .

As given

Colin received a bonus check for 2,500.

Collin is going to deposit the money into his bank account that receives 5.5% compounded annually for 5 years .

P = $2500

5.5% is written in the decimal form

Explanation: