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if you deposit $1,000 into an account with 4% interest, how much money will be in the account in three years
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1 vote
if you deposit $1,000 into an account with 4% interest, how much money will be in the account in three years

User Adriaan Moors
by
6.2k points

2 Answers

3 votes

Answer:

1,120

Explanation:

4% of 1,000 is 40

$40*3 years is 120

add that to 1000 and you get 1,120

User Daysi
by
5.9k points
3 votes

Answer:

$1124.86

Explanation:

1000(1+0.04)^3=1124.864

User DSchultz
by
6.5k points
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