132k views
1 vote
If 650 are deposited into an account with a 4% interest rate...

If 650 are deposited into an account with a 4% interest rate...-example-1
User Skylin R
by
8.5k points

2 Answers

4 votes

Answer:2,85 dollars

Explanation:

ur welcome :)

User AndreFeijo
by
7.9k points
5 votes

Explanation:

Compounding interest formula

FV = PV ( 1+i)^n i = decimal interest per period = .04

n = periods = 18

FV = 65 ( 1+ .04)^18 = 1316.78 units

User Per Svensson
by
8.4k points