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05-12-2019
Mathematics

contestada

Jasmine invested money at the Bank of America. The account has a 2.5%
annual rate. She earned $575 in interest over a 7 year period. How much money did she originally invest?

Respuesta :

acctantd acctantd

06-12-2019

Answer: This is a compound interest

A=P(1+r)^n

Where A=P+I

P+575=P(1+0.025)^7

P+575=1.1887P

P=3047

Step-by-step explanation:

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