Calculate the amount in an account at the end of one year if the account starts with the principal amount stated below and earns the specified annual rate of interest compounded yearly. Principal = $3,

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Tee asked Apr 22, 2023

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Calculate the amount in an account at the end of one year if

the account starts with the principal amount stated below and
earns the specified annual rate of interest compounded yearly.
Principal = $3, 000, Rate = 4%

A. $3,120
B. $5,120
C. $4,120
D. $6,120

Mathematics
college

Tee asked Apr 22, 2023

by Tee

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Answer: A

Explanation multiply 3,000 by .04 since 0.4 is 4% and get the answer of 120
Then add 3000 + 120 getting the result of 3120

Adam Hoelscher answered Apr 28, 2023

by Adam Hoelscher

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