SOLUTION: A savings account accrues interest at a rate of 3.0% yearly. If someone opens an account with $2,500, how much money would the account have after 5 years?

SOLUTION: A savings account accrues interest at a rate of 3.0% yearly. If someone opens an account with $2,500, how much money would the account have after 5 years?

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Question 823816: A savings account accrues interest at a rate of 3.0% yearly. If someone opens an account with $2,500, how much money would the account have after 5 years?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=2500(1.03)^5
FV=2500(1.159274)
FV=$2,898.00

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