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Citrus2011 [14]
3 years ago
13

Daniel has 120 dollars in the bank. He is earning 3.5% compound interest each month. How much money will he have in the bank in

one year?
Mathematics
2 answers:
kaheart [24]3 years ago
6 0

Answer:

$124.27

Step-by-step explanation:

A = Principal(1 + r/n)^nt

r = interest rate

n = # times compounded

t = # years

A = 120 (1 + .035/12)^12(1)

A = 120(1 + .0029)^12

A = 120(1.0029)^12

A = 120 x 1.0353

A = 124.27

vaieri [72.5K]3 years ago
5 0

Answer:

$1813.28

Step-by-step explanation:

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Step-by-step explanation:

Step 1

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