If the money and interest are left in the bank, how much is the total accumulated savings at the end of the second year for a savings of $3,500 at 8% annually compounded interest?
A. $3,742.30
B. $3,895.53
C. $3,935.10
D. $4,082.40

Question

If the money and interest are left in the bank, how much is the total accumulated savings at the end of the second year for a savings of $3,500 at 8% annually compounded interest?
	A.	$3,742.30
	B.	$3,895.53
	C.	$3,935.10
	D.	$4,082.40

anonymous · Answer

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this is formula for compounded interest formula.