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

Question

3 years ago

8

count after 3 years? Round to the nearest dollar.

1 answer:

OleMash [197] · Answer 1 · 2022-04-07T11:08:25+03:00

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