Question

Fred's bank account balance started with 325$. he has an annual interest rate of 4% . he wants to know how much money he will have in his account in 12 years.

Answer 1

Answer:

the equation ( in t(n) form) is t(n)= 325(1.04) to the 12th exponent. otherwise the answer is 520.34 if you round up the half cent.

Step-by-step explanation:

325 is the starting value, or figure 0. 1.04 is the multiplier because it is growing buy .04 and you need to add in the 1 otherwise it'd decrease by 96% each time.

Answer 2

Answer:

481

Step-by-step explanation:

325 × .04 = 13

13( simple intrest) × 12 (years) = $156

$156 + $325 = 481