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Hugo puts $400.00 into an account to use for school expenses. The account earns 4% interest, compounded annually. How much will be in the account after 8 years?

Hugo puts $400.00 into an account to use for school expenses. The account earns 4% interest, compounded annually. How much will be in the account after 8 years?
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18 votes
Hugo puts $400.00 into an account to use for school expenses. The account earns

4% interest, compounded annually. How much will be in the account after 8 years?

asked
User Dinesh Gowda
by
8.4k points

1 Answer

0 votes

Answer:

$528

Explanation:

400 × 0.04 × 8

= $128

128 + 400

= $528

answered
User Tigran Sarkisian
by
7.7k points
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