Mathematics, 30.01.2020 15:49 lolfunny124
Acustomer deposits $500 in an account that pays 4% annual interest. what is the balance after 3 years if the interest is compounded annually?
compound interest formula:
t = years since initial deposit
n = number of times compounded per year
r = annual interest rate (as a decimal)
p = initial (principal) investment
v(t) = value of investment after t years
a. $500.12
b. $512.00
c. $560.00
d. $562.43
Answers: 3
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Acustomer deposits $500 in an account that pays 4% annual interest. what is the balance after 3 year...
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