Answer:
A. 587.60
Step-by-step explanation:
Use the formula:
[tex]A=P(1+r\%)^t[/tex]
where P=$485
[tex]r=3.25\%=0.0325[/tex]
and
t=6 years.
We substitute the values into the formula to get:
[tex]A=485(1+0.0325)^6[/tex]
This simplifies to:
[tex]A=485(1.0325)^6[/tex]
[tex]A=587.60[/tex]
The correct choice is A
