Question

Suppose you invest $1600 at an annual interest rate of 4.6%. How much will you have in the account after 4 years? Round your answer to the nearest penny.

Answer 1

\(\Large \color{MidnightBlue}{\Rightarrow 1600(1 + {4.6 \over 100})^{4} }\)

Answer 2

1600 x 1.046

Answer 3

This is like the compound interest.

Answer 4

@Aurora-Borealis NOOO!!

Answer 5

ohh yeah, sorry, forgot to add the years... xD

Answer 6

So, like $1915.4?

Answer 7

1915.34