Principal: $5000

Interest Rate: 3.75%

Time: 25 years

Compounded Monthly

State the future account balance.

Answer:I believe I did this wrong but I got 126,343.75

Step-by-step explanation:

I divided 5000 by 100 to get the percentage then I multiplied the answer by 3.75 for the interest rate then I multiplied that answer by 25 then I multiplied 5000 by 25 and added them together

312897158.8

or to 3 significant figures, 313000000

Step-by-step explanation:

5000 (1 + (3.75/100)) ^25*12

x12 as it says compounded monthly