Question

8. Use the​ compound-interest formula to find the account balance​ A, where P is​ principal, r is interest​ rate, n is number of compounding periods per​ year, t is​ time, in​ years, and A is account balance.

Answer 1

Answer:

Step-by-step explanation:

$P = 56,150(1 + \frac{0.095}{4})^{ 4(2.5)$

≈ $71005