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Doubt clarification - use comment section.
A student uses four different tape-measures to estimate the length of a ruler manufactured to be exactly 1 foot long. Which meas
2 answers:
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Answer:
first, u need to know the formula for compound interest, which is:
where A is the final amount
P- initial amount
r- percent compounded(interest)
and
n- number of years
so
we have
3.8/100 = 0.038
1+0.038 =1.038
1.038^4 = 1.160885573136
475 * 1.160885573136 = 551.4206472396
approximately $551.42