Invest $25,000 in a account paying 6% compounded annually, what will the balance be after 5 years

Step-by-step explanation:

In the above question we have been given ,

P = $ 25,000    ( initial deposit )

r = 6%                 ( rate of interest )

n = 1

t = 5 years         ( time period )

Compound Interest Formula -

Now putting the appropriate values   -

After 5  years the balance will be $33,500

The amount in the account after five years would be $33,500

Explanation:

Principal. P = $25,000

Rate of interest, r = 6%

Time, t = 5 years

Balance = ?

We know,

Since the interest is compounded annually, n = 1

Substituting the value we get,

Therefore, the amount in the account after five years would be $33,500

the answer is d. (1.2, -4.7) on edgn

hope this !

step-by-step explanation:

i have done this all on a piece of paper but idk how to put it on here cuz it needs to be drawn