[tex]~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &\$2500\\ r=rate\to 2.4\%\to \frac{2.4}{100}\dotfill &0.024\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{annually, thus once} \end{array}\dotfill &1\\ t=years\end{cases} \\\\\\ A=2500\left(1+\frac{0.024}{1}\right)^{1\cdot t} \implies A=2500(1.024)^t~\hfill b=2500(1.024)^t[/tex]
