Question

Please help!! fan and medal!
An investment account earns 4% per year compounded annually. If initial investment account was $4,000.00 how much is in the amount after 3 years? round to the nearest dollar. please show work when explaining

Answer 1

@desmarie

Answer 2

use F = P(1+i)^n

Answer 3

Future = present(1+interest)^years

Answer 4

my sister explained it to me. is the answer $480?

Answer 5

can you show me your work?

Answer 6

no the answer is not 480

Answer 7

i just multiplied 160 3 times.

Answer 8

why did you multiply 160 by 3?

Answer 9

where did you get 160?

Answer 10

Future = present(1+interest)^years <===== here is the answer

Answer 11

what is your interest, i = ?