At the beginning of every year, Molly deposits $200 in a savings account that offers an interest rate of 20%, compounded annuall

Question

Paha777 [63]

3 years ago

12

At the beginning of every year, Molly deposits $200 in a savings account that offers an interest rate of 20%, compounded annuall

y. The total amount that Molly will have in her account at the end of 3 years is

Mathematics

2 answers:

matrenka [14] · Answer 1 · 2021-12-26T13:34:29+03:00

<span>The total amount of money that Molly will have after depositing a certain amount with interest that is compounded annually is calculated through the equation,
F = P x (1 + i)^n
Substituting the known values from the given above,
F = ($200)(1 + 0.20)^3
F = $345.6
Therefore, the answer to this item is $345.6.</span>

andrew-mc [135] · Answer 2 · 2021-12-26T14:47:12+03:00

andrew-mc [135]3 years ago

7 0

Answer:

$873.60

Step-by-step explanation:

it was correct for plato