Given:
Principal= $3000
Rate of interest = 5%
Time = 4 years
n = 1 (compounded annually)
To find:
The balance in the account after 4 years
Solution:
Compound interest formula:
Substitute the given values.
To convert percentage into fraction divide by 100.
The balance in the account after 4 years is $3464.5.
My house is located at (1,1) and the store is located at (4,3) Each square is a mile. How far do I walk to get to the store?