Asked by christopher
Find the total amount in the compound intrest account.
$4000 is compounded annually at a rate of 11% for 3 years. (Round the nearest hundredths as needed)
$4000 is compounded annually at a rate of 11% for 3 years. (Round the nearest hundredths as needed)
Answers
Answered by
tchrwill
Sn = P(1+i)^n
Sn = 4000(1.11)^3 = $5,470.52.
Sn = 4000(1.11)^3 = $5,470.52.
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