Question

Customer deposits $1,000 in an account in which the interest is compounded annuallyThe table below shows the balances in the account at the end of each year.

Amount in Account vsNumber of Years
Amount in Account, A
Number of Years After Initial Deposit, t
1,000
0
1,080
1
1,166.40
2
1,259.71
3
1,360.49
4

Answer 1

2,140 is the correct answer