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Sophie [7]
3 years ago
14

If you start with $1000 and invest it in account that pays 3% interest compounded once a year. How much

Mathematics
1 answer:
satela [25.4K]3 years ago
7 0

Answer:

A = P(1 + \frac{r}{n} )^{nt}\\\\P = 1000\\r = 3\% = \frac{3}{00} = 0.03\\n = 1\\t = 10\\\\A = 1000( 1 + \frac{0.03}{1} )^{10}= 1000(1.03)^{10} =\$1343.92

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