Answered

At Westonci.ca, we connect you with the best answers from a community of experienced and knowledgeable individuals. Get quick and reliable answers to your questions from a dedicated community of professionals on our platform. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

David deposited $400 in his account. If his bank offers 2.5% interest compounded monthly, how much will be in his account in 7 years?

Sagot :

sandhyap88

Answer:

to make it easier let's convert the rate in year

so it will be (2.5×12)

we gotta find CA(compound amount)

P=PRINCIPAL=$400

R=RATE=(2.5×12)%

T=TIME=7 years

View image sandhyap88
Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Keep exploring Westonci.ca for more insightful answers to your questions. We're here to help.