Find the balance in the account. $2,400 principal earning 2%, compounded annually, after 7 years $307,200.00 $17,136.00 $2,736.00 $2,756.85

Step-by-step explanation:

we know that    

The compound interest formula is equal to  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

in this problem we have  

substitute in the formula above  

1 is c

2 is a

3 is a

step-by-step explanation: