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1 January, 02:31

An inverstor invest $2,500 into a mutaul fund and earns 5.75% on the principle for each of three years. How much interest has accrued at the end of the period?

a. $413.25b. $4,132.50c. $431.25d. $571.00

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  1. 1 January, 02:44
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    The correct answer is c) $431.25

    Explanation:

    Amount: An investor invests $2,500 into a mutual fund

    Rate: earns 5.75% that is the same of 0.0575

    Period: on the principle for each of three years.

    $2,500 x 0.0575 x 3 = $431.25

    At the end of the period, the investor has accrued $431.25 of interest
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