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A $3,300.00 principal earns 4% interest, compounded annually. After 3 years, what is the balance in the account?

A $3,300.00 principal earns 4% interest, compounded annually. After 3 years, what is the balance in the account?
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4 votes
a $3,300.00 principal earns 4% interest, compounded annually. After 3 years, what is the balance in the account?

User Uniqua
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8.7k points

1 Answer

5 votes
Fv=3300(1+0.04)^3
Fv=3,300×(1.04)^(3)
=3,712.0512
User Mdot
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7.8k points
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