Emily’s parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded annually, what will be

1 thought on “Emily’s parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded annually, what will be”

1. Answer:

   principal=1500, year =2 , Rate of interest=8.25

   interest = principal × rate of interest × year =2÷100

   15×2×8.25

   15×2×825÷100

   30×825÷100

   3×825÷10

   2475÷10

   247.5

   Amount= principal+ Interest

   Amount= 1500+ 247.5

   Amount= 1747.5

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