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You invest $400 in an account that pay3% interest compounded by annaully what will your balance be after 1year
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You invest $400 in an account that pay3% interest compounded by annaully what will your balance be after 1year

User Ufo
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1 Answer

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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
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