Question

Jordan deposits $100 into an account that earns 8.5% interest compounded three times a year. What is the balance in his account after 35 years? (Round to the nearest cent)​

Answer 1

9514 1404 393

Answer:

$1879.58

Explanation:

Use the given values in the given formula.

`A = \$100(1+(0.085)/(3))^(3\cdot35)\approx\$1879.58`

The balance in Jordan's account after 35 years is $1879.58.