A savings account pays 2% interest compounded annually. If $1,200 is deposited initially and again at the first of each year, ho
w much money will be in the account three years after the initial deposit?
$1,248.48
$2,472.48
$3,672.48
$3,745.93
1 answer:
Answer:
it would be 3,672.48
Step-by-step explanation:
because 2 percent of 1,200 is 24 so 24 times three is 72
1,200 times three years is 3,600 + 72 = 3,672 and some change
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