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4 years ago

10

A $3300 principal earns 4% intrest, compounded annually. After 3 years, what is the balance in the account.

1 answer:

Nikitich [7]4 years ago

4 0

This can be answered using the following formula for interest:

Let:
F = future value
P = principal value
n = interest period (n = 3)
i = interest percentage

F = P(1 + i)^n

Substituting the given values, we arrive at the following:
F = 3300(1 + 0.04)^3
F = 3712.05

Therefore, after 3 years, the balance in the account will be $3712.05

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For $|x|=y$ , we have two cases:

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