Answer:
$144,843.5
Step-by-step explanation:
In this problem we are going to apply the compound interest formula
A= P(1+r)^t
A = final amount
P = initial principal balance
r = interest rate
t = number of time periods elapsed
Given data
P= $27,000
R= 7.25%= 7.25/100= 0.0725
T= 24
A=27000(1+0.0725)^24
A= 27000(1.0725)^24
A= 27000*5.364
A= $144,843.5
In 24 years her account balance will be $144,843.5
