Math help Sally puts $200.00 in a bank account. This account earns 8% compound interest. How much money is in the account

Question

Math help
Sally puts $200.00 in a bank account. This account
earns 8% compound interest. How much money is
in the account after three years?

in progress 0
Thanh Hà 4 years 2021-07-28T11:33:07+00:00 2 Answers 9 views 0

Answers ( )

  1. thuhuong
    0
    2021-07-28T11:34:23+00:00
    Reply

    I’ll assume the interest compounds annually (once a year).

    Use A=P(1+r/n)^nt to solve!

    A = Amount after time
    P = Initial value
    t = Time in years
    r = Rate
    n = Number of compounds(¿?)

    A=200(1+0.08/1)^1×3

    There is $251.94 in the account after three years!

  2. Latifah
    0
    2021-07-28T11:34:30+00:00
    Reply

    Answer:

    B $240.00

    Step-by-step explanation:

    thats the correct answer

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