Mario invested $6,000 in an account that pays 5% annual interest compounded annually. using the formula a = p(1 + r)t, what is the approximate value of the account after 2.5 years? (answers) $6,075 $6,118 $6,456 $6,778

In our formula, A is what we are looking for, P is the initial investment of 6000, r is the interest rate expressed as a decimal (.05), and t is time in years, 2.5.  Our formula then is filled in accordingly: .  Work withing the parenthesis first, as always, and get 1.05.  Now raise that to the 2.5 power and get 1.129726322.  Multiply that huge decimal by 6000 to find A.  A=$6778.36, or rounded it would be the last choice above.