Anthony570086 Anthony570086

12-02-2017
Mathematics

contestada

$2000 principal earning 3%compounded annually, 7 years

Respuesta :

mollymollmoo99 mollymollmoo99

12-02-2017

2000 x 1.03^7
$2459.75

Answer Link

12-02-2017

Final Amount=Principal ×(1+percent increase)^number of years
A=2000×(1+3℅)^7
A=2000×(1+0.03)^7
A=2000×(1.03)^7
A=2000×1.229874
A=2459.7477308498
A=2459.75
Therefore the earning after 7 years is $2459.75

Answer Link

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