Hope this helps you understand!
:)
:)
Make Estimates for the following
1 answer:
You might be interested in
Answer:
$448
Step-by-step explanation:
We can use the simple interest formula for this:
<em>P = initial balance</em>
<em>r = annual interest rate</em>
<em>t = time</em>
<em />
First, change 4% into its decimal form:
4% -> -> 0.04
Now, lets plug in the values:
The total amount in the account after 3 years will be $448