Juan's father deposited $1500 in the bank as a graduation gift for juan. The bank pays a compound interest rate of 12% compounded annually. What is Juan's balance after 4 years

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asked Jan 28, 2023 58.4k views

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Juan's father deposited $1500 in the bank as a graduation gift for juan. The bank pays a compound interest rate of 12% compounded annually. What is Juan's balance after 4 years

Mathematics
college

Nick Tomlin asked

by Nick Tomlin

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It’s 5280, because you would 1500 x .12= 180. 1500- 180= 1320. Then you would multiply 1320 times 4

AnD answered Feb 2, 2023

by AnD

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