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Find the total amount in each account to the nearest cent if the interest is compounded annually. 1.) $595 at 4.75% for 3 years 2.) $12,000 at 6.95% for 4 years
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Jan 3, 2019
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Find the total amount in each account to the nearest cent if the interest is compounded annually.
1.) $595 at 4.75% for 3 years
2.) $12,000 at 6.95% for 4 years
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A=$595×(1+.0475÷1)^3=$683.88
A=$12000(1+.0695÷1)^4=$15,700.17
Maniraj Murugan
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Jan 8, 2019
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