Answer:
She will have $4,075 in her account after 14 years.
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
[tex]E = P*I*t[/tex]
In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
After t years, the total amount of money is:
[tex]T = E + P[/tex].
In this problem:
[tex]P = 2500, I = 0.045, t = 14[/tex]
So
[tex]E = P*I*t[/tex]
[tex]E = 2500*0.045*14[/tex]
[tex]E = 1575[/tex]
Total
[tex]T = 2500 + 1575 = 4075[/tex].
She will have $4,075 in her account after 14 years.
