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3 years ago

What is the final balance for an account starting with $2000 at 3.5% interest compounded annually for 3 years?

1 answer:

8 0

A=final ballance
P=presene amount
r=rate in decimal
T=time in years

$A=P(1+r)^t$

given
P=2000
r=3.5%=0.035
t=3

$A=2000(1+0.035)^3$
$A=2000(1.035)^3$
A=2217.44

answer si $2217.44

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