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anonymous
 one year ago
Suppose you deposit 2000 in a savings account that pays interest at an annual rate of 4%. If no money is added or withdrawn, determine how much with be in the account after 3 years. HELP!!! MEDAL
anonymous
 one year ago
Suppose you deposit 2000 in a savings account that pays interest at an annual rate of 4%. If no money is added or withdrawn, determine how much with be in the account after 3 years. HELP!!! MEDAL

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anonymous
 one year ago
Best ResponseYou've already chosen the best response.0This is a growth or decay equation but its complicated, do you know how?

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0So it PAYS at a rate of 4% per YEAR for 3 YEARS

anonymous
 one year ago
Best ResponseYou've already chosen the best response.01.04 is your growth per year and your time is 3 years

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Do you need me to explain how I got 1.04?

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Yes, if you can input the numbers into the equation? I want to see how you did it

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Yeah so first we know 4% is .04 If I want it to grow at a % rate I add a one to it, if I wouldnt do this then I would be left with 4% of my current number: 2000*.04 = 80 we know this wouldn't work because 80 < 2000. To be a growth rate we need a number > 2000. 2000* 1.04 = 2080 This is the growth for the first year. You could also do 2000*.04 + 2000 since 2000*.04 + 2000 = 2000*.04 + 2000 * 1 = 2000*1.04

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0So in short to grow add a one to your percent

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0So our first year total is 2080 Our second year would be 2080(1.04) and our third year would be (second year total)1.04

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0So that's how! Great. THANK YOU SO MUCH!!!!!! I can do my homework with ease. Thank you :) <3

ahvei
 one year ago
Best ResponseYou've already chosen the best response.0ok here is my answer.... So our first year total is 2080 Our second year would be 2080 and our third year would be 1.04

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Thanks @swagmaster47 and please behave @ahvei

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Thanks :), have a great day!
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