3 years ago

Suppose Kaitlin places $ 4000 in an account that pays 18% interest compounded each year.

Mathematics

1 answer:

Ratling [72]3 years ago

7 0

Answer:

a) $4720

b) $5569.60

Step-by-step explanation:

Initial amount = $4000

Interest rate = 18% PA compounded

<u>Amount after 1 year</u>

$4000*1.18 = $4720

<u>Amount after 2 years</u>

$4720*1.18 = $5569.60

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