Register

Liam invests $5,000 in an account that pays 2.5% compound interest annually. He uses the expression P(1+r)t to find the total value of the account after t years. What will be th…

Liam invests $5,000 in an account that pays 2.5% compound interest annually. He uses the expression P(1+r)t to find the total value of the account after t years. What will be th…
16.5k views
5 votes
Liam invests $5,000 in an account that pays 2.5% compound interest annually. He uses the expression P(1+r)t to find the total value of the account after t years. What will be the total value of the account after 3 years?

User Pablo Grisafi
by
8.2k points

1 Answer

1 vote

Answer:

The final balance is $5,389.

The total compound interest is $389.

Explanation:

User Ddelizia
by
8.3k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!