Given:
Principal= $3000
Rate of interest = 5%
Time = 4 years
n = 1 (compounded annually)
To find:
The balance in the account after 4 years
Solution:
Compound interest formula:
Substitute the given values.
To convert percentage into fraction divide by 100.
The balance in the account after 4 years is $3464.5.
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Answer:
To round 5.82 to the nearest tenth consider the hundredths' value of 5.82, which is 2 and less than 5. Therefore, the tenths value of 5.82 remains 8.
Step-by-step explanation:
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