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Eddie deposited $1200 into an account that earns 3% interest compounded 4 times per year. How much money will Eddie have in his account after 5 years? Round to the nearest cent.…

Eddie deposited $1200 into an account that earns 3% interest compounded 4 times per year. How much money will Eddie have in his account after 5 years? Round to the nearest cent.…
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Eddie deposited $1200 into an account that earns 3% interest compounded 4 times per year. How much money will Eddie have in his account after 5 years? Round to the nearest cent.

User Sadheesh
by
8.2k points

1 Answer

4 votes
A=1,200×(1+0.03÷4)^(4×5)
A=1,393.42
User Renata
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8.5k points
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