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Lucy invested $19,000 in an account paying an interest rate of 3% compounded annually. Assuming no deposits or withdrawals are made, how much money, to the nearest hundred dollars, would be in the account
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Lucy invested $19,000 in an account paying an interest rate of 3% compounded annually. Assuming no deposits or withdrawals are made, how much money, to the nearest hundred dollars, would be in the account after 8 years?

User BillRizer
by
7.4k points

1 Answer

9 votes

Answer:

23560

Explanation:

3% of 19k is 570

570*8=4560

4560+19000=23560

User Nyree
by
7.3k points
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