Problema Solution
Fin the amount of an investment account if $2500 is invested at 3%, compounded annually for 2 years.
Answer provided by our tutors
Fin the amount of an investment account if $2500 is invested at 3%, compounded annually for 2 years.
A=P*(1+r)^n.
=2500*(1+0.03)^2.
=2500*1.0609.
=$2652.25.