What is the final amount of 17.50 that is put into a saving account with 4 annual interest rate compounded yearly for 25 years?

To find the total amount, you will use the formula for finding compounded interest. This means you will be paid interest on top of the interest you have earned each year.

A = P (1 + r) ^nt

P stands for the principal.

r is the interest rate when compounded annually

nt is the number of years

A = 17.50 (1 + 0.04) ^25

A = $46.65

This person would have $46.65 after 25 years.