Please help!! Jose invests $3,250 at 6% interests compound annually. What will be the balance in the account after 3.5 years (1point)
A:$3,932.50
B:$3,985.23
C:$4,752.00
D:$5,200.00
I will Give medal and fan who ever gives me the correct answer

Question

Please help!! Jose invests $3,250 at 6% interests compound annually. What will be the balance in the account after 3.5 years (1point) 
A:$3,932.50
B:$3,985.23
C:$4,752.00
D:$5,200.00
I will Give medal and fan who ever gives me the correct answer

anonymous · Answer

b

anonymous · Answer

Help please!!

anonymous · Answer

i said b so fan me now and give me a medal !!!!!!!!!!!!!!!!!!!!!!!!!!!!!

e.mccormick · Answer

When it compounds annually, you will have three compounding periods.  So you can put it in a compound interest formula, or you can find the value each year and add it up.

anonymous · Answer

I have no idea what that means

e.mccormick · Answer

Well, what formulas have they give you for working with interest?

anonymous · Answer

i still dont understand

e.mccormick · Answer

Well, do you know at all how interest works?

anonymous · Answer

Can you tell me if it is A,B,C,D pleease

anonymous · Answer

I will fan and medal

anonymous · Answer

@KAPOOKY

anonymous · Answer

A.

anonymous · Answer

It's not that hard of a concept, I suggest you learn it instead of blindness trusting others.

anonymous · Answer

obviously it is that hard because your answer is wrong... and just in case you forgot this website is for people who need help so if you arent gonna help than dont sign up @KAPOOKY

e.mccormick · Answer

One year of interest is the princiapal times the interest.  If it compounds, you add that to the principal as the new principal.

The .5 at the end, or half a year, is just half the interest.

anonymous · Answer

Oh I know! I was doing principle interest. I was doing 3250(0.06)(42/12) =A

I forgot that it compounds anually.
This means the intrest grows keeps growing on itself.
3250(1+0.06) ^ 42/12=B

anonymous · Answer

Love K, search compound interest on youtube.

anonymous · Answer

yea exactly so next time you wanna act like you never want answers go back to this conversation with your little attitude!

anonymous · Answer

What? Either way I'm done trying to teach you critical thinking.  I hoped you would  think for youself, but you're too young for that.

anonymous · Answer

you dont even know how old i am and your name is kapooky which most likely means your asain and 9

e.mccormick · Answer

Please people, no fights.  It does not help anyone.