kaylee5569 kaylee5569

11-04-2021
Mathematics

contestada

Find the balance in the account.
4. $3,900 principal earning 2%, compounded annually, after 3 years

Respuesta :

fatimamalhi00 fatimamalhi00

11-04-2021

Answer:

$4138.7

Step-by-step explanation:

P= $3,900

R= 2%

T or n= 3 years

compounded anually (yearly) so:

A= P(1+[tex]\frac{R}{100}^n[/tex])

A= 3900(1+[tex]\frac{2}{100}^3[/tex])

A= $4138.7

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