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vovikov84 [41]
3 years ago
6

.Jim opened an account with $400. The account pays three percent quarterly. How much is in the account at the end of two years?

Round to the nearest dollar
Mathematics
1 answer:
podryga [215]3 years ago
7 0
We may have this planned like this:
two years is 8 quarters 
<span>Assuming simple interest, </span>
You will use the formula
<span>A = P(1+rt) </span>
<span>= 400(1+8*.03) </span>
<span>= 496
</span>I think this is the answer:) Hope it helps a lot
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