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Firlakuza [10]
2 years ago
15

Cody has $1400 in a savings account that earns 4 % annually. How much will he have total after 3 years?

Mathematics
2 answers:
Natali [406]2 years ago
6 0
$1400 - Savings
4% Per Year
3 Years
4% x 3 = 12% Total
1400 x 12% = $168
$1568 Total
zalisa [80]2 years ago
3 0

<u>Answer:</u>

<h2>$1,574.81</h2>

<u>Steps:</u>

  • total after 1 year = (1400/100 × 4) + 1400 = (14 × 4) + 1400 = 56 + 1400 = <u>$1456</u>
  • total after 2 years = (1456/100 × 4) + 1456 = (14.56 × 4) + 1456 = 58.24 + 1456 = <u>$1,514.24</u>
  • total after 3 years = (1,514.24/100 × 4) + 1,514.24 = (15.14 × 4) + 1,514.24 = 60.57 + 1,514.24 = $1,574.81
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