Mark deposit $2000 into an account that pays an interest rate of 3.5% compounded annually. He doesn’t add or remove money from his account for four years. How much money will Ma…

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asked Nov 10, 2020 15.2k views

2 Answers

Jdtoh · Answer 1 · 2020-11-13T13:35:18+0000

Answer: The total amount of money Mark will have after waiting 4 years would be $2280.

Explanation:

Well to begin start off by writing the formula to solve for interest;

I=Prt

After that we must full in the corresponding terms;

I=2000*.035*4

Then simply solve by multiplying your sums to get a total of $280.

Last but not least take your original amount and add the two to get a total of $2280.