If $1,000 is invested in an account that pays 4% interest compounded annually, an expression that represents the amount in the a

Question

4 years ago

7

If $1,000 is invested in an account that pays 4% interest compounded annually, an expression that represents the amount in the a

ccount at end of three years can be given by which of the following equations?
A. 1000+0.4^3
B. 1000(0.3)^3
C. 1000(1.04)^3 ...?

Mathematics

2 answers:

Nitella [24] · Answer 1 · 2021-12-01T08:33:23+03:00

Let's see here... the answer is C just by using common sense. A doesn't make sense because you can't cube .4, as it is a percentage, and you wouldn't add that to 1000. B makes no sense because the percentage you are using is 4%, not 30%. Of course, just be sure to fact-check me there.

Nana76 [90] · Answer 2 · 2021-12-01T09:54:42+03:00

Nana76 [90]4 years ago

4 0

Answer:

the other person is right, the answer is C

Step-by-step explanation: