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At the beginning of every year, Molly deposits $200 in a savings account that offers an interest rate of 20%, compounded annually. The total amount that Molly will have in her a…

At the beginning of every year, Molly deposits $200 in a savings account that offers an interest rate of 20%, compounded annually. The total amount that Molly will have in her a…
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at the beginning of every year, Molly deposits $200 in a savings account that offers an interest rate of 20%, compounded annually. The total amount that Molly will have in her account at the end of 3 years is ____$ .

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User BlueIceDJ
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7.8k points

1 Answer

4 votes

F = $200 (1+0.2)^3

F = $345.6

The answer is $345.6.

answered
User Jabalazs
by
8.6k points
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