Ask Question
18 May, 12:18

Colin received a bonus check for 2,500. He is going to deposit the money into his bank account that receives 5.5% compounded annually. What is Colin's account balance after 5 years?

A. $2,637.50

B. $6,327.50

C. $3,267.40

D. None of these choices

+3
Answers (1)
  1. 18 May, 13:26
    0
    Amount = 2500 (1 + 0.055) ^5 = $3267.40

    C
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Colin received a bonus check for 2,500. He is going to deposit the money into his bank account that receives 5.5% compounded annually. What ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers