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Mrs. Hudson invested $700 into an account that draws 3% interest, compounded annually. what is the total value of the account after 20 years?

Mrs. Hudson invested $700 into an account that draws 3% interest, compounded annually. what is the total value of the account after 20 years?
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5 votes
mrs. Hudson invested $700 into an account that draws 3% interest, compounded annually. what is the total value of the account after 20 years?

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User Gyuzal
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7.9k points

1 Answer

2 votes
700 x .03 x 20 = 420
420 + 700
1120 is in the account after 20 years
answered
User Bill Lumbert
by
9.1k points
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