If the APY of a savings account is 3.9%, and if the principal in the savings account is $3700 for an entire year, what will be t
2 answers:
Answer:
Option B.
Step-by-step explanation:
It is given that
AYP = 3.9%=0.039
Principal amount = $3700
Time = 1 year.
We need to find the balance of the savings account after all the interest is paid for the year.
The formula for amount is
where, A is amount, P is principal, r is rate of return and t is time in years.
Substitute the given values.
Therefore, the correct option is B.
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Step-by-step explanation:
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Step-by-step explanation:
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