Michelle deposited $3,400 into an account. She made no additional withdrawals or deposits. Michelle earned 1.95% annual simple
interest on the money in the account
What was the balance in her account at the end of 2.5 years?
Enter the amount in the account in the box.

$_______

When in a money problem like this and it is telling you to find the tax, fee, or and bonus you move the decimal in front of the number or decimal and round to the nearest penny and in this situation .195 rounds to .96

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andromache andromache · Answer 2 · 2022-04-15T14:44:12+02:00

The balance in her account at the end of 2.5 year should be considered as the $3,568.

Calculation of the balance in the amount:

Since deposited amount si $3,400

The interest rate is 1.95%

And, the time period is 2.5 years

So, here the balance should be like

[tex]= 3400 \times (1 + 1.95\%)^{2.5[/tex]

= $3,568

hence, The balance in her account at the end of 2.5 year should be considered as the $3,568.

Learn more about interest rate here: https://brainly.com/question/24002393

Michelle deposited $3,400 into an account. She made no additional withdrawals or deposits. Michelle earned 1.95% annual simple interest on the money in the account What was the balance in her account at the end of 2.5 years? Enter the amount in the account in the box. $_______

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Calculation of the balance in the amount:

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Michelle deposited $3,400 into an account. She made no additional withdrawals or deposits. Michelle earned 1.95% annual simple
interest on the money in the account
What was the balance in her account at the end of 2.5 years?
Enter the amount in the account in the box.

$_______