1. Smitty deposits $500 into a bank account. The interest Rate he receives is 7.5% Annually. What is the amount of interest he receives after 5 years?​

a

step-by-step explanation:

this is the formula: v = the value of investment at the end of the time period

p = the principal amount (the initial amount invested)

r = the annual interest rate

n = the annual frequency of compounding (how many times a year interest is added)

t = the number of years the money is invested

^ means raise to the power of

step-by-step explanation:

left be aligning the decimal points is required to not required see the number of digits to the right

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