To save for a car when he turns 18, pascale deposited $500 each year into a savings account with a 7.5% interest rate compounded annually. using the formula, what is the value of the account at the end of the fifth year? $3,071.92 $3,122.00 $3,851.77 $4,140.65

Second option is correct.

Step-by-step explanation:

Since we have given that

Initial amount deposited into a savings account each year = $500

Rate of interest compounded annually = 7.5%

Number of years = 5 years

So, Amount in the account at the end of the fifth year would be

Hence, Second option is correct.

the answer is 175.4379

step-by-step explanation: