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lululife

  • 2 years ago

What is the final balance for an account starting with $2000 at 3.5% interest compounded annually for 3 years? A = P(1 + r)t A. $2217.44 B. $4290.75 C. $6210.00 D. $8100.00

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  1. lululife
    • 2 years ago
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    it is

  2. HourglassMage
    • 2 years ago
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    never mind, sorry, I was in English before

  3. lululife
    • 2 years ago
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    so any of you guys know how to do this is so help please and its ok @HourglassMage

  4. HourglassMage
    • 2 years ago
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    A

  5. lululife
    • 2 years ago
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    thanx how did you get the answer

  6. HourglassMage
    • 2 years ago
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    well, honestly I just used an interest calculator, but I'll show you step-by-step how it should be done. Just give me a couple of minutes...

  7. lululife
    • 2 years ago
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    ok

  8. HourglassMage
    • 2 years ago
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    3.5%/100 = .035% /035% = R

  9. HourglassMage
    • 2 years ago
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    A = 2000(3.5 + .035)(3)

  10. lululife
    • 2 years ago
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    thanx @HourglassMage

  11. HourglassMage
    • 2 years ago
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    no prob

  12. HourglassMage
    • 2 years ago
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    do you want the site for the interest calculator?

  13. lululife
    • 2 years ago
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    yes

  14. HourglassMage
    • one year ago
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    http://www.webmath.com/simpinterest.html Lol, sorry, I never noticed your response. Hopefully you still have a use for the site. :/

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