Asked by chun
At the end of every year for three years, RM 1,000 is invested in a account that offers 8% compounded annually. Find the account amount at the end of the three years.
Answers
Answered by
bobpursley
end of first year: 1080
end of second year=2080*1.08
end of third year=(2080*1.08 +1000)1.08
end of second year=2080*1.08
end of third year=(2080*1.08 +1000)1.08