Homework Help: math

Posted by Jean on Saturday, July 25, 2009 at 4:03pm.

If $3,000.00 is deposited into an account paying 3% interest compounded annually (at the end of each year), how much money is in the account after 4 years? (Round to the nearest cent.)

math - Damon, Saturday, July 25, 2009 at 4:17pm
1.03^4 = 1.1255
so multiply 3,000 by 1.1255

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