loganmerritt05 loganmerritt05

13-05-2021
Mathematics

contestada

the $700 you put into the bank is being continuously at 1.2%. how much will it be worth after 3 years?

Respuesta :

samuelonum1 samuelonum1

18-05-2021

Answer:

$983.45

Step-by-step explanation:

Given data

Principal= $700

Rate= 1.2%

Time= 3 years

The compound interest expression is given as

A= P(1+r)^t

A= 700(1+0.12)^3

A= 700(1.12)^3

A= 700*1.404928

A=$983.45

Hence the balance will be $983.45

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