Question

please ans please
step by step​

Answer 1

Step-by-step explanation:

7 1/2 % is 7.5% (same thing)

Amount at the end of 1st year:

20,000 + (7.5% of 20,000)

= 20,000 + 1500

= 21,500

Amount at the end of 2nd year:

21,500 + (7.5% of 21,500)

= 21,500 + 1,612.50

= 23,112.50

Amount at the end of 3rd year:

23,112.50 + (7.5% of 23,112.50)

= 23,112.50 + 1,733.40

= 24,845.90 or rounded to 24,846.