asked 77.0k views
2 votes
A new savings account is opened with $700 and gains 3.1% annual interest compounded monthly. How much is in the account after 3 years

A)$2100.92
B)$1753.33
C)$768.13
D)$705.44

asked
User Ubaldo
by
8.0k points

1 Answer

0 votes
A=700×(1+0.031÷12)^(12×3)
A=768.13
answered
User Pete Brumm
by
8.2k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.