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Greeley [361]
3 years ago
7

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

Mathematics
2 answers:
slava [35]3 years ago
7 0
The answer would be $495 and in the picture it explains how I got that in steps.

Lostsunrise [7]3 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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