George’s parents are saving for his college fund. they put $5,000 into an interest bearing account with a compound interest rate of 5.5%. george’s parents want to determine what the balance of his college fund account will be after 15 years. using the formula. which is the correct substitution for the formula?

$ 11162.38 (Approx)

Step-by-step explanation:

Here the principal amount is, P = $ 5000

Annual rate is, r = 5.5%

Total time, t = 15 years

Thus, the amount of saving after getting 5.5% compound annual interest for 15 years is,

Thus, The balance of his college fund account will be after 15 years is  $ 11162.38 (Approx)

answer: the answer is 127 degrees