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5 votes
Math help

Sally puts $200.00 in a bank account. This account
earns 8% compound interest. How much money is
in the account after three years?

2 Answers

3 votes
I’ll assume the interest compounds annually (once a year).

Use A=P(1+r/n)^nt to solve!

A = Amount after time
P = Initial value
t = Time in years
r = Rate
n = Number of compounds(¿?)

A=200(1+0.08/1)^1x3

There is $251.94 in the account after three years!
Math help Sally puts $200.00 in a bank account. This account earns 8% compound interest-example-1
User Lode
by
4.1k points
2 votes

Answer:

B $240.00

Explanation:

thats the correct answer

User Nitneuq
by
4.9k points