Janelle S. answered • 05/21/20

Penn State Grad for ME, Math & Test Prep Tutoring (10+ yrs experience)

Not exactly sure how you got 3,125.21, but make sure you convert r into a decimal and convert t into time in years.

P = $2400

r = 9.2% = .092

t = 3 months = 3/12 years = .25 years

A = P(1 + rt) = $2400 (1 + .092*.25) = $2400 (1.023) = $2455.20