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wariber [46]
3 years ago
5

Jack is investing $3,000 into an account

Mathematics
1 answer:
marin [14]3 years ago
5 0

Answer:

Step-by-step explanation:

I think this is the equation for annual compunt interest

FV = PV(1 + int)^time        PV is present value    FV is the future value

PV + Interest  =  FV

FV - PV = Interest

                           FV                   -      PV

Interest  = [3000(1 + 0.03)^30]   -   3000

              =    3000(1.03)^30    -   3000

              =    3000(2.4272)   -   3000

              =    7281.79   -   3000

              =    $4282     to the nearest dollar    <------------    Fianl Answer

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