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mario invested $6,000 in an account that pays 5% annual interest compounded annually. using the formula a = p(1 r)t, what is the approximate value of the account after 2.5 years?a. $6,075b. $6,118c. $6,456d. $6,778

Verified Answer :

toporc

\(A=6000(1+0.05)^{2.5}=$6,778\)

The approximate value of the account after 2.5 years is $6,778.

Option d is correct.

Compound Interest:

The amount is given by,

                    @@MATH_TOKEN_0@@

Where P is Principle, r is rate of interest and n is time.

Given that,  P=6000, r = 5% and t= 2.5 years

Substitute values in above formula.

             @@MATH_TOKEN_1@@

The approximate value of the account after 2.5 years is $6,778.

Learn more about the Compound interest here:

https://brainly.com/question/24924853

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