Mr. wilkins deposited $2,500 in a new account at his bank. • the bank pays 6.5% interest compounded annually on this account. • mr. wilkins makes no additional deposits or withdrawals. which amount is closest to the balance of the account at the end of 2 years? a) $2,835.56 b) $2,513.00 c) $2,662.50 d) $2,825.00

Option A.  

Step-by-step explanation:

we know that    

The compound interest formula is equal to  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

in this problem we have  

substitute in the formula above  

answer: 1) twenty-seven times y

              2) twenty-seven multiplied by y