Got Homework?
Connect with other students for help. It's a free community.
Here's the question you clicked on:
 0 viewing
If the money and interest are left in the bank, how much is the total accumulated savings at the end of the second year for a savings of $3,500 at 8% annually compounded interest?
A. $3,742.30
B. $3,895.53
C. $3,935.10
D. $4,082.40
 one year ago
 one year ago
If the money and interest are left in the bank, how much is the total accumulated savings at the end of the second year for a savings of $3,500 at 8% annually compounded interest? A. $3,742.30 B. $3,895.53 C. $3,935.10 D. $4,082.40
 one year ago
 one year ago

This Question is Closed

JuanitaMBest ResponseYou've already chosen the best response.0
dw:1360102013415:dw this is formula for compounded interest formula.
 one year ago

JuanitaMBest ResponseYou've already chosen the best response.0
P = principal amount (the initial amount you borrow or deposit) r = annual rate of interest (as a decimal) t = number of years the amount is deposited or borrowed for. A = amount of money accumulated after n years, including interest. n = number of times the interest is compounded per year
 one year ago
See more questions >>>
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.