Wednesday

July 23, 2014

July 23, 2014

Posted by **Wendi Jones** on Monday, October 1, 2012 at 2:22pm.

What is the total amount in the account after three years?

What is the amount after three years if the interest was compounded annually?

- Economics - Finance -
**Steve**, Monday, October 1, 2012 at 2:59pmthe same as every other year: .055*100 = 5.50

100(1+.055*3) = 116.50

100(1.055)^3 = 117.42

**Related Questions**

pre algebra - At the beginning of the year 2000, Bob put $100 in a savings ...

College alerbra - Scott invested a total of $9500 at two separate banks. One ...

Economics - Suppose you deposit $5,000 in a bank which pays 10 percent interest ...

Algebra - an algebra student won $115,000 in a lottery and wishing to deposit it...

Finance - First Simple Bank pays 6 percent simple interest on its investment ...

Math Economics - 1. Jacksonville Technical College received $3,445,553 in state ...

Finance - Annuities - Natasha plans to deposit $4,000 per year in her account ...

SS - Rohan has 100 dollars that he wants to save in a bank. Bank A offers two ...

Word problem - suppose you deposit $350 in a bank account that pays 6% annual ...

math - not sure how to solve this problem, Mrs. Smith put $5,000 into a ...