ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mr. Wilkins deposited $2, 500 in a new account at his bank. *The bank pays 6.5% interest compounded annually on this account. *Mr. Wilkins makes no additional deposits or withdrawals.Which amount is closest to the balance of the account at the end of 2 years?
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$2, 835.56
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$2, 513.00
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$2, 662.50
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$2, 825.00
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Explanation:
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