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Ron Jon is depositing $400 into a savings account with an annual interest rate of 9% compound interest. How much money is he expected to have in his account next year if he makes no deposits or withdrawals?
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Ron Jon is depositing $400 into a savings

account with an annual interest rate of 9%
compound interest. How much money is he
expected to have in his account next year if he
makes no deposits or withdrawals?​

User Ben Walding
by
7.8k points

1 Answer

2 votes

Answer:436

Explanation:

(400x9x1)÷100=36

400+36=436

User Joline
by
8.3k points
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