2 years ago

Find the amount saved after 3 years of $250 is deposited monthly at a rate of 5.5%

Mathematics

2 answers:

slava [35]2 years ago

7 0

The answer would be $495 and in the picture it explains how I got that in steps.

Lostsunrise [7]2 years ago

4 0

Chere is 3*12=36 months in three years. We will use then the following formula in order to compute the saving:
$250(1.055)^{36}=\$1718$

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