PLEASE HELP MEEE!! NEED HELP FAST!! 20 POINTS
2 answers:
30000$ swhat i thiiiiiiiiiiiiiiiiiiiin
<h3>
Answer: 602.45 dollars </h3>
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Explanation:
The formula we'll use is
A = P(1+r/n)^(n*t)
which is the compound interest formula
The variables are
P = amount deposited (principal) = 525 r = interest rate in decimal form = 0.035 n = compounding frequency = 1 (annually means 1 time a year) t = number of years = 4 So we get
A = P(1+r/n)^(n*t)
A = 525(1+0.035/1)^(1*4)
A = 602.449575328124
A = 602.45
Which is her balance after four years assuming no additional deposits or withdrawals.
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Extra info:
Subtract off the initial balance to get 602.45 - 525 = 77.45
She made 77.45 dollars in interest over those four years.
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