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11-01-2017
Mathematics

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What is the final balance for an account starting with $2000 at 3.5% interest compounded annually for 3 years?

A = P(1 + r)t

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apologiabiology apologiabiology

11-01-2017

A=final ballance
P=presene amount
r=rate in decimal
T=time in years

[tex]A=P(1+r)^t[/tex]

given
P=2000
r=3.5%=0.035
t=3

[tex]A=2000(1+0.035)^3[/tex]
[tex]A=2000(1.035)^3[/tex]
A=2217.44

answer si $2217.44

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