Lakeesha deposits $1500 into a Young Savers account. The account receives 4% interest compounded annually. What is the balance i

Question

Alenkasestr [34]

3 years ago

9

Lakeesha deposits $1500 into a Young Savers account. The account receives 4% interest compounded annually. What is the balance i

n Lakeesha's account after 2 years? After 3 years?

Mathematics

2 answers:

ratelena [41] · Answer 1 · 2022-05-18T23:21:42+03:00

ratelena [41]3 years ago

3 0

Answer:

1,622 after 2 years at 4% interest. $1,687 after 3.

Step-by-step explanation:

My explanation has been provided in the image linked.

Eva8 [605] · Answer 2 · 2022-05-19T00:32:03+03:00

Eva8 [605]3 years ago

3 0

In fact I think the person above me is wrong, here is why:

4 percent (interest) of 1500 = 60

Therefore,

1 year= 1560

2 years = 1620

3 years = 1680