A savings account earns 4% interest a year. When compounded monthly what would a $200 deposit earn in 3 years? (round to the nearest dollar)

A. 225
B. 230
C. 275
D. 245

A. 225

Step-by-step explanation:

We would apply the formula for determining compound interest which is expressed as

A = P(1+r/n)^nt

Where

A = total amount in the account at the end of t years

r represents the interest rate.

n represents the periodic interval at which it was compounded.

P represents the principal or initial amount deposited

From the information given,

P = $200

r = 4% = 4/100 = 0.04

n = 12 because it was compounded 12 times in a year.

t = 3 years

Therefore,

A = 200(1 + 0.04/12)^12 × 3

A = 200(1 + 0.0033)^36

A = 200(1.0033)^36

A = $225

answer: 0.1,0.85

step-by-step explanation:

step-by-step explanation:

given expression is .

now we need to simplify the given expression .

we know that square root is equivalent to the power 1/2. so that means we can take half of the exponents to get the square root of given expression.

expanding that will give a very very large number so let's keep answer in exponent form.