Question

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?​

Answer 1

Explanation:

A=19000( 1 + 0.03)^8

A=24068.6315464

A≈24100

Round to the nearest hundred dollars

Answer 2

23560
3% of 19k is 570
570*8=4560
4560+19000=23560
(I hope this is right)