A bank account balance, b, for an account starting with s dollars, earning an annual interest rate, r, and left untouched for n years can be calculated as b=s (1+r)n^ . Find a bank account balance to the nearest dollar, if the account starts with $200, has an annual rate of 4%, and the money left in the account for 10 years.

Question

A bank account balance, b, for an account starting with s dollars, earning an annual interest rate, r, and left untouched for n years can be calculated as b=s (1+r)n^ .  Find a bank account balance to the nearest dollar, if the account starts with $200, has an annual rate of 4%, and the money left in the account for 10 years.

anonymous · Answer

its $960 in simple interest

anonymous · Answer

im still confused, thats not one of the choices @wolftears

anonymous · Answer

what r the choices

anonymous · Answer

a.
$300
c.
$280
b.
$296
d.
$302 @wolftears