Answer:
A = $3,526.50
Step-by-step explanation:
First, convert R as a percent to r as a decimal
r = [tex]\frac{R}{100}[/tex]
r = [tex]\frac{3.5}{100}[/tex]
r = 0.035 rate per year,
Then solve the equation for A
A = P(1 + [tex]\frac{r}{n}[/tex])nt
A = 2,500.00(1 + [tex]\frac{0.035}{1}[/tex])(1)(10)
A = 2,500.00(1 + 0.035)(10)
A = $3,526.50
Hence:
The total amount of over 10 years is $3,526.50.
