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arsen [322]
3 years ago
6

Mrs. Olga’s credit card charges an interest rate of 19% compounded annually. If her current balance is $250, what will her balan

ce be after 3 years?
Mathematics
2 answers:
SOVA2 [1]3 years ago
5 0

Answer:

$421.30

Yearly Componded Interest

$250 * 19% = $47.50 = $297.50 <-- Year One Balance

$297.50 * 19% = $56.53 = $354.03 <-- Year Two Balance  

$354.03 * 19% = $67.27 = $421.30 <-- Year Three Balance  

AleksandrR [38]3 years ago
3 0

Answer:

$421.29

Step-by-step explanation:

$250

19%

3 years

----------

  • $250*1.19³= $421.29
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