Mathematics, 07.03.2020 02:15, alexa3941
At the beginning of year 1, Josie invests $400 at an annual compound interest rate of 5%. She makes no deposits to or withdrawals from the account.
Which explicit formula can be used to find the account's balance at the beginning of year 3?
A.
A(3) = 400 • (1 + 0.05)3
B.
A(3) = 400 + (3 – 1)(0.05 • 400)
C.
A(3) = 400 + (0.05 • 400)3 – 1
D.
A(3) = 400 • (1 + 0.05)3 – 1
Answers: 1
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At the beginning of year 1, Josie invests $400 at an annual compound interest rate of 5%. She makes...
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