Asked by Dean
$2,000 principal earning 3%, compounded annually, after 3 years.
Answers
Answered by
Henry
P = Po(1+r)^n.
n = 1comp./yr * 3yrs = 3 Compounding periods.
P = 2000(1+.03)^3 = $2,185.45.
n = 1comp./yr * 3yrs = 3 Compounding periods.
P = 2000(1+.03)^3 = $2,185.45.
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