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Find the balance in the account after the given period $3000 principal earning 5% compounded annually, 8 years i really need help im confused

Find the balance in the account after the given period $3000 principal earning 5% compounded annually, 8 years i really need help im confused
asked 23.3k views
12 votes
Find the balance in the account after the given period

$3000 principal earning 5% compounded annually, 8 years
i really need help im confused

asked
User Redandblue
by
8.2k points

1 Answer

6 votes

Answer:

$1200

Explanation:

5% of $3000 = $150

multiply 8 by $150 = $1200

answered
User Luchonacho
by
7.8k points
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