Answer:
$3,255.65
Step-by-step explanation:
I assume that you would like to calculate the result of $2,500 sitting for 6 years at an interest rate of 4.5%. You are going to want to use the compound interest formula, which is shown below.
[tex]P(1+\frac{r}{n} )^{nt}[/tex]
P = initial balance
r = interest rate
n = number of times compounded annually
t = time
Now lets plug in the values into the equation.
[tex]2,500(1+\frac{0.045}{1})^6[/tex] = 3,255.65
Your answer is $3,255.65
