Question

maureen put $200 into a fund at 3% interest compounded annually. how much money will she have after 4 years?make a table to show how you got your answer

Answer 1

compounded pay twice a years
4*2=8
3%=0.03
0.03/2=0.015
y=200(1+0.015)^8
y=200(1.015)^8
y=$225.30