Harper has $14 in her piggy bank. Her mom pays her $12 for chores. How much does Harper now have in the piggy bank?
2 answers:
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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 :
, where P+ principal value, r= rate of interest, n= time ( in years).
As per given,
P= $6700 , r = 3.4% =0.034, n =4
Hence, the amount of money in his account after 4 years = $7,658.73