Register
You invest $400 in an account that pay3% interest compounded by annaully what will your balance be after 1year
57.0k views
4 votes
You invest $400 in an account that pay3% interest compounded by annaully what will your balance be after 1year

User Ufo
by
7.7k points

1 Answer

3 votes
CI = P[ (1 + r/100)^n - 1]
A = P( 1 +r/100)^n

A= 400( 1+ 3/100)^1
A= 400* 103/100= 4*103=$ 412

hope u understand
User Mr Squid
by
7.7k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Other Questions

What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
Link Copied!