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OpenStudy (anonymous):
What is the final balance for the investment? $10,000 for 3 years at 4% compounded annually
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OpenStudy (anonymous):
@Reppinthe80
OpenStudy (anonymous):
10,000 x 0.04 = 400 --> interest after one year. New balance is now 10,400. 10,400 x 0.04 = 416 --> interest after second year New balance is now 10,816. 10,816 x 0.04 = 432.64 --> interest after third year Final balance after 3 years is $11248.64
OpenStudy (anonymous):
thx
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