Asked by Bengie
You deposit $500 in an account that earns 4% simple annual interest. The interest earned each year is added to the principal to create a new principal. Find the total amount in your account after each year for 3 years.
Answers
Answered by
oobleck
500 * 1.04^3
This is just compound interest
This is just compound interest
Answered by
Seahawk wannabe
but what is the answer
Answered by
Seahawk wannabe
srsly
Answered by
Anonymous
sus
Answered by
Anonymous
mogus
Answered by
no
1 520
2 540.80
3 562.43
2 540.80
3 562.43
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