Mika placed $4200 in a savings account which compounds interest continuously at a rate of 2.3%. How much will she have in the ac
count after 3 years? Round to the nearest dollar.
1 answer:
Mika placed $4200 in a savings account which compounds interest continuously at a rate of 2.3%.
How much will she have in the account after 3 years?
1st year 4200 x 1.023 = 4296.60
2nd year 4296.60 x 1.023 = 4395.4218
3rd year 4395.4218 x 1.023 = 4496.5165
Round to the nearest dollar.
$4497
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