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lianna [129]
3 years ago
9

1. Robbie opens an account at a local bank and deposits $100 every week into the account.

Mathematics
1 answer:
user100 [1]3 years ago
6 0

Answer:

the amount in the account after  three years?​ = $110.96

Step-by-step explanation:

the formula to calculate the amount compounded after 3year =

A = P(1 + r/n)∧nt

A =P(1 + r/n)^{nt}

where P = principal =starting amount = $100 weekly

    r= interest rate = 2.4% weekly = 0.024

    t = time interest is computed = 3years =

    n = number of time interest is compounded per year =52.1weeks

inputing the parameters

A =100(1 +  0.024/52.1)^{52.1 *3}

A = 100 (1.0005)^{208}

A = 100 *1.1096

A = $110.96

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