Question

Question

Answer 1

Answer:

1800 dollars

Step-by-step explanation:

We can set up an equation here to represent the exponential growth in Terry's bank account.

$y = 1600(1.04)^x$

We can plug in 3 for x since x is the # of years the account is receiving compound interest on.

$y = 1600(1.04)^3$

$1.04^3 = 1.124864\\1.124864*1600= 1800$