Alan saved 500 dollars in a bank account that compounds 3 percent annually. Assuming there are no other transactions, after 18 years, how much is in Alan's bank account? (Give your answer to the nearest dollar.)

Guest Apr 12, 2021

#1**+1 **

= 500 ( 1 + .03) ^{18 }= $............ .03 is 3% periodic interest 18 is the number of periods ( 18 years)

ElectricPavlov Apr 12, 2021