lululife
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
Delete
Share
This Question is Closed
lululife
Best Response
You've already chosen the best response.
1
it is
HourglassMage
Best Response
You've already chosen the best response.
2
never mind, sorry, I was in English before
lululife
Best Response
You've already chosen the best response.
1
so any of you guys know how to do this is so help please and its ok @HourglassMage
HourglassMage
Best Response
You've already chosen the best response.
2
A
lululife
Best Response
You've already chosen the best response.
1
thanx how did you get the answer
HourglassMage
Best Response
You've already chosen the best response.
2
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...
lululife
Best Response
You've already chosen the best response.
1
ok
HourglassMage
Best Response
You've already chosen the best response.
2
3.5%/100 = .035%
/035% = R
HourglassMage
Best Response
You've already chosen the best response.
2
A = 2000(3.5 + .035)(3)
lululife
Best Response
You've already chosen the best response.
1
thanx @HourglassMage
HourglassMage
Best Response
You've already chosen the best response.
2
no prob
HourglassMage
Best Response
You've already chosen the best response.
2
do you want the site for the interest calculator?
lululife
Best Response
You've already chosen the best response.
1
yes