Question

What is the final balance for the investment? $2500 for 3 years at 6% compounded annually

A.
$3211.46

B.
$2977.54

C.
$2950.00

D.
$2650.00

Answer 1

@laibashahlakhan

Answer 2

Well.. I'm bad at this money questions.. @John_ES can you please help?

Answer 3

Substitute in this... you'll get it :D

Answer 4

sriramkumar has given the right equation,

\[25000\cdot\left(1+\frac{6}{100}\right)^3=2977.54\]