3 years ago

May someone please help?

1 answer:

Vikki [24]3 years ago

8 0

What do u need help on??

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Nonamiya [84]

Answer: The amount of money in his account after 4 years = $7,658.73

Step-by-step explanation:

If interest is compounded annually, then formula to compute amount :

$A=P(1+r)^n$ , where P+ principal value, r= rate of interest, n= time ( in years).

As per given,

P= $6700 , r = 3.4% =0.034, n =4

$A=6700(1+0.034)^4\\\\=6700(1.034)^4\\\\=6700(1.14309455234)\approx7658.73$

Hence, the amount of money in his account after 4 years = $7,658.73

6 0

3 years ago