Jenna saves $2,500 per year in an account that earns 10% interest per year, compounded annually. Jenna will have(A $411,234) (B $425,352) (C $449,739) saved in 30 years. Her account balance is a result of Jenna’s(A annuity payments)(B lump-sum payment) .

Step-by-step explanation:

This problem is on compound interest.

the expression for compound interest is given as

A=P(1+r)^t

A=final amount

P=initial principal balance

r=interest rate

n=number of times interest applied per time period

t=number of time periods elapsed

Given data

P= $2,500

r= 10/100= 0.1

t= 30 years

substituting into the expression for compound interest and solving for A we have

A=2500(1+0.1)^30

A=2500(1.1)^30

A=2500*17.449

A=$43623.50

The final amount is $43623.50

Her account balance is a result of Jenna’s(A annuity payments)

step-by-step explanation:

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