Hugo puts $400.00 into an account to use for school expenses. The account earns 4% interest, compounded annually. How much will be in the account after 8 years?

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Fernando Rocha asked May 13, 2023

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39 votes

Hugo puts $400.00 into an account to use for school expenses. The account earns

4% interest, compounded annually. How much will be in the account after 8 years?

Mathematics
college

Fernando Rocha asked May 13, 2023

by Fernando Rocha

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1 Answer

21 votes

Answer:

$528

Explanation:

400 × 0.04 × 8

= $128

128 + 400

= $528

Maxday answered May 20, 2023

by Maxday

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