carsonforeman10 carsonforeman10

02-10-2017
Business

contestada

$3,000 is invested in an account earning 8% interest compounded annually. How much will there be in the account after 2 years?
A. $3,240
B. $3,480
C. $3,499.20
D. $3,779.14

Respuesta :

ilovebri4ox77og ilovebri4ox77og

02-10-2017

The answer to your question is, B.3,480

Answer Link

Aliwohaish12 Aliwohaish12

02-10-2017

The formula is
A=p (1+r)^t
A future value?
P present value 3000
R interest rate 0.08
T time 2 years
A=3,000×(1+0.08)^(2)
A=3,499.2

So the answer is c
Hope it helps!

Answer Link

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