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stepladder
2 months ago
8

DOPO

Mathematics
1 answer:
AnnZ [12.3K]2 months ago
5 0

Response:

$144,843.5

Detailed explanation:

In this scenario, we will utilize the compound interest formula

A= P(1+r)^t

A = final amount

P = initial principal

r = interest rate

t = number of periods

Given parameters

P= $27,000

R= 7.25%= 7.25/100= 0.0725

T= 24

A=27000(1+0.0725)^24

A= 27000(1.0725)^24

A= 27000*5.364

A= $144,843.5

By the end of 24 years, her account balance will reach $144,843.5

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