We use cookies to personalise content and advertisements and to analyse access to our website. Furthermore, our partners for online advertising receive pseudonymised information about your use of our website. cookie policy and privacy policy.
 
+0  
 
0
39
1
avatar

you deposit 1600 in a bank account. Find the balance after 3 years if the account pays 4% annual interest

off-topic
 Nov 22, 2019
 #1
avatar
+1

FV = PV x [1 + R]^N

 

FV =$1,600 x [1 + 0.04]^3

 

FV =$1,600 x     1.04^3

 

FV =$1,600 x  1.124864

 

FV =$1,799.78 - Balance of the acct. after 3 years.

 Nov 22, 2019

28 Online Users

avatar
avatar