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You put $500 in an account that earns 4% annual interest. the interest earned each year is added to the principal to create a new principal. find the total amount in your accoun…

You put $500 in an account that earns 4% annual interest. the interest earned each year is added to the principal to create a new principal. find the total amount in your accoun…
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4 votes
You put $500 in an account that earns 4% annual interest. the interest earned each year is added to the principal to create a new principal. find the total amount in your account after each year for 3 years.

asked
User MHolzmayr
by
8.1k points

1 Answer

6 votes
500(1.04)^3
562.43
the answer is $562.43
answered
User Mnist
by
8.1k points
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