Answer:
$3456
Step-by-step explanation:
We will use the simple interest formula to find the answer. The formula is:
i = Prt
Where
i is the interest earned
P is the princial amount
r is the rate of yearly interest (in decimal)
t is the time, in years
After we find "i", we add it to the principal to find total amount of money after 8 years.
First, let's convert the rate to decimal by dividing by 100:
3.5% = 3.5/100 = 0.035
Lets find the interest:
i = Prt
i = 2700*0.035*8 = 756
So, at end of 8 years, her account will be:
2700 + 756 = $3456
