roselynh11886 roselynh11886

21-03-2020
Mathematics

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I WILL MARK BRAINLIEST!!!
Imagine you have invested $800 into a savings account that earns 3.5% interest
compounded annually. What is the balance of your account after 5 years without more
deposits or withdrawals?
A=228.00
Btw I need the step by step work thanks

Respuesta :

wreynolds19 wreynolds19

21-03-2020

Step-by-step explanation:

800 times .035 (year 1) = 828

828 times .035 (y2) = 28.98 (add to 828)

856.98 times .035 = 29.99 (add to 856.98)

886.97 times .035 = 31.04 (add to 886.97)

918.01 times .035 = 32.13

918.01 plus 32.13 = 950.14

950.14

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