If you put $125 into an account that paid 3.25 percent interest,then how much money would you have in the account after 20 years?
A)$285.83
B)$236.98
C)$202.04
D)$145.65

Question

Quizplus · Accepted Answer

The future value of an investment can be calculated using the formula for compound interest: FV = P(1 + r)^n, where P is the principal amount ($125), r is the annual interest rate (0.0325), and n is the number of years (20). Plugging in these values, FV = 125(1 + 0.0325)^20 ≈ $236.98.

If You Put $125 into an Account That Paid 3