Answer
$A=2661.02$
Work Step by Step
$P=2500, r=3\%=0.03, n=12, t=2$
$A=P(1+\frac{r}{n})^{nt},$
$=2500(1+\frac{0.03}{12})^{24}=2500(1.0025)^{24}=2661.02$
College Algebra (10th Edition)
by Sullivan, Michael
Published by
Pearson
ISBN 10:
0321979478
ISBN 13:
978-0-32197-947-6
Chapter 9 - Section 9.1 - Sequences - 9.1 Assess Your Understanding - Page 649: 102
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