Question

What is the amount in the account after 4 yrs , rounded to the nearest dollar

Answer 1

We have the next formula

`f(x)=350(1+0.03)^x`

where x us the number of years, in this case x= 4

`f(4)=350(1+0.03)^4=393.92`

rounded to the nearest dollar is $394 is the amount in the account after 4 years.