Answer:
2730$
Step-by-step explanation:
The amount of money left in the account after n years is given by the equation
[tex]p=p_0 (1+r)^n[/tex]
where
[tex]p_0[/tex] is the initial amount of money
r is the rate of interest
n is the number of years
In this problem, we have:
[tex]p_0=2600[/tex] is the initial amount of money
[tex]r=\frac{5}{100}[/tex] is the interest rate (5%)
n = 1 is the number of years
Therefore, the amount of money after 1 year is
[tex]p=(2600)(1+0.05)^1=2730[/tex]
