Applying the Compound Interest Formula
What is the total amount after 2 years?
An initial...
![Mathematics](/tpl/images/cats/mat.png)
Mathematics, 05.05.2020 03:41, BreBreDoeCCx
Applying the Compound Interest Formula
What is the total amount after 2 years?
An initial amount of $600 is invested in a compound
savings account with an annual interest rate of 3.5%.
1. Define variables
2. Substitute into formula
A = P(1+r)
3. Evaluate
What is the total amount after 4 years?
Intro
![answer](/tpl/images/cats/otvet.png)
Answers: 2
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