If $1000 is invested in ana ccount that pays 4% interest compounded annually

asked Aug 21, 2021 15.0k views

1 vote

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3 votes

Explanation:

Since the equation is balance = principal (1 + rate of interest) ^ time, then the correct answer should be 1000 (1.04)^3.

Aderuwe answered Aug 27, 2021

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