Register

Julio deposits $345 in an account that earns 3.1% interest compounded annually. How much money is in the account after 15 years?

Julio deposits $345 in an account that earns 3.1% interest compounded annually. How much money is in the account after 15 years?
asked 5.2k views
4 votes
Julio deposits $345 in an account that earns 3.1% interest compounded annually. How much money is in the account after 15 years?

asked
User Thalesmello
by
8.7k points

1 Answer

1 vote

Answer:

A = $ 545.38

A = P + I where

P (principal) = $ 345.00

I (interest) = $ 200.38

answered
User Paul DS
by
7.4k points
← Prev Question Next Question →

Related questions

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

What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!