Register

A savings account balance is compounded annually. If the interest rate is 3% per year and the current balance is $1,875.00, what will the balance be 18 years from now?

A savings account balance is compounded annually. If the interest rate is 3% per year and the current balance is $1,875.00, what will the balance be 18 years from now?
asked 32.3k views
5 votes
A savings account balance is compounded

annually. If the interest rate is 3% per
year and the current balance is $1,875.00,
what will the balance be 18 years from now?

asked
User Unknownuser
by
9.0k points

1 Answer

3 votes

Answer:

The balance will be $4,690.00.

answered
User Roman Shamritskiy
by
8.7k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
Link Copied!