Jeff invested $3000 in an account that earns 6.5% interest, compounded annually. the formula for compound interest is a=p(1+i)t .

how much did jeff have in the account after 3 years ?

a. $13,476.38
b. $3623.85
c. $3390.00
d. $9585.00

Option B - $3623.85

Step-by-step explanation:

Given : Jeff invested $3000 in an account that earns 6.5% interest, compounded annually. The formula for compound interest is  .

To find : How much did Jeff have in the account after 3 years ?

Solution :

The formula for compound interest is .

Where A is the amount

P is the principal = $3000

I is the interest = 6.5%=0.065

t is the time = 3 years

Substitute in the formula,

Therefore, Option B is correct.

The amount Jeff have in the account is $3623.85

by definition, an arc subtended by a central angle of some given measure has the same measure. so .

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step-by-step explanation: