Question

$2500 principal earning 3%, Compounded annually after 4 years.

Answer 1

balance in the account?

Answer 2

Amount after t years =P(1+r/100)^time (in years)

Answer 3

whats P?

Answer 4

$2500

Answer 5

The number you start with

Answer 6

whats r?

Answer 7

r is the rate. 3%. Now, is it gaining 3% or losing 3% over time?

Answer 8

i dont know

Answer 9

I'm guessing it's gaining, considering.

Answer 10

so is 3 % .03?

Answer 11

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