Answer: 4,16,240
Step-by-step explanation:
I got it right on Edge
This can be solve using the formula:
F = P ( 1 + i)^n
where F is the money after n years
P is the initial amount of money
i is the annual interest rate
n is the time in years
since you deposit in 3 accounts P = 2200/3
F = ( 2200 / 3) ( 1 + 0.03)^6
F = $ 875.64 is the money each account earned after 6 years
Answer:
B and E
Step-by-step explanation:
Answer:
$1,229.75
Step-by-step explanation:
Lets use the compound interest formula provided to solve this:

<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
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First, change 3.25% into a decimal:
3.25% ->
-> 0.0325
Since the interest is compounded monthly, we will use 12 for n. Lets plug in the values now:


Lastly, subtract A from P to get the interest earned:
