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mel-nik
2 months ago
5

Mario invested $6,000 in an account that pays 5% annual interest compounded annually. Using the formula A = P(1 + r)t, what is t

he approximate value of the account after 2.5 years?
a. $6,075
b. $6,118
c. $6,456
d. $6,778
Mathematics
1 answer:
Zina [12.3K]2 months ago
6 0
Given:
Principal = 6,000
interest rate = 5%
term = 2.5 years

A = P (1+r)^t
A = 6,000 (1 + 0.05)².⁵
A = 6,000 (1.05)².⁵
A = 6,000 (1.1297)
A = 6,778.20 Choice D.

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