At the beginning of year 1, Zack invests $700 at an annual compound interest
rate of 3%. He ma...
![Mathematics](/tpl/images/cats/mat.png)
Mathematics, 22.04.2020 22:36, ballbritez
At the beginning of year 1, Zack invests $700 at an annual compound interest
rate of 3%. He 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 5? What is the balance?
O A. A(n) = 700 + (0.003 ยท 700)(n-1); $719.45
O B. A(n) = 700 + (n โ 1)(0.03 ยท 700); $784.00
O C. A(n) = 700 - (1 +0.03)(n โ 1); $787.86
O D. A(n) = 700 - (1 + 0.03)"; $811.49
SUBMIT
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