What will be the change in a sum of money compounded annually at 20% for 3.5 years? 51%76%90%68%

To calculate the change in a sum of money compounded annually at 20% for 3.5 years, we can use the formula for compound interest:

A = P(1 + r/n)^(nt)

Where: A = the final amount P = the principal amount (initial sum of money) r = the annual interest rate (as a decimal) n = the number of times interest is compounded per year t = the number of years

In this case, the principal amount is not given, so we cannot calculate the exact change in the sum of money. However, we can calculate the final amount by assuming a principal amount and then calculate the change based on that.

Let's assume the principal amount is $100. Plugging in the values into the formula, we have:

A = 100(1 + 0.20/1)^(1*3.5) A = 100(1 + 0.20)^(3.5) A = 100(1.20)^(3.5) A ≈ 100(1.728) A ≈ 172.80

So, if the principal amount is $100, the final amount after 3.5 years with a 20$172.80.

To calculate the change in the sum of money, we subtract the principal amount from the final amount:

Change = Final amount - Principal amount Change = 172.80 - 100 Change ≈ 72.80

Therefore, the change in the sum of money, assuming a principal amount of $100, would be approximately$72.80.