Bowe

Compound interest Joey deposits $400 on an account with a 4% interest annual interest compounded yearly. What will be the balance in 3 year.

Step 1;A=400(1+0.04) ^3

Step 2; 1+0.04=1.04

Step 3; 400(1.04)^3

Step 4; 400(1.04)^3=449.94

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