Answer:
$861.09
Step-by-step explanation:
You are going to want to use the compound interest formula, which is shown below.
[tex]A = Pe^{rt}[/tex]
A = total
P = principal amount
r = interest rate (decimal)
t = time (years)
First, change 3.25% into its decimal form:
3.25% -> [tex]\frac{3.25}{100}[/tex] -> 0.0325
Next for t, we can use 4.25 since 4 years and 3 months is 4.25 in its decimal form. Now lets plug in the values:
[tex]A=750e^{(0.0325)4.25}[/tex]
[tex]A=861.09[/tex]
Your answer is $861.09
