Question

Simon deposits $400 in an account that pays 3% Interest compounded
annually. What is the balance of Simon's account at the end of 2 years?

Answer 1

Answer:

The balance of Simon's account at the end of 2 years:

400 x (1 + 3/100)^2 = 424.36 dollar

Hope this helps!

:)

Answer 2

Answer:

The person above me is correct!