Question

Mark deposit $ 200 into an account that pays an interest rate 3.5% compounded annually. He doesn't add or remove from his account for 4 years how much money will markbhave in 4 years

Answer 1

30,012.5

Explanation:

We power the number by itself for the past years so in this it will be 3.5 powered by itself four times equaling 150.0625 multiplied by the first deposit which is 200 so 200*150.0625= 30,012.5

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