# Math

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.)

1. 👍 0
2. 👎 0
3. 👁 327
1. \$3000.00 x (1.03)^4 = \$3376.53

1. 👍 0
2. 👎 0

## Similar Questions

1. ### Finance

. On the day that you were born, your grandfather opened a savings account in your name. At that time, he deposited a certain amount of money into the account, and has deposited the same amount on each of your first 20 birthdays.

2. ### Math

Roman saves \$500 each year in an account earning interest at an annual rate of 4% compounded annually. How much interest will the account earn at the END OF THE FIRST THREE YEARS? I think I am confusing simple and compounded

Shelley Katz deposited \$30,000 in a savings account at 5% interest compounded semiannually. At the beginning of year 4, Shelley deposits an additional \$80,000 at 5% interest compounded semiannually. At the end of 6 years, what is

Lee Holmes deposited \$ 15,000 in a new savings account at 9% interest compounded semiannually, At the beginning of year 4, Lee deposites an additional \$40000 at 9% interest compounded semiannually. At the end of the 6 years what

1. ### math

Huan deposited \$850 into a collegesavings account earning 4.8% interestcompounded annually. He also deposited\$850 into a second account earning 4.8%simple interest. He made no additionaldeposits. After 10 years, which account

2. ### math

How much money would need to be deposited into an account earning 5.75% interest compounded annually in order for the accumulated value at the end of 25 years to be \$85,000?

3. ### PRE-CALCULUS

. Sam won \$150,000 in the Michigan lottery and decides to invest the money for retirement in 20 years. Find the accumulated value for Samâ€™s retirement for each of his options: (a) a certificate of deposit paying 5.4% compounded

4. ### Algebra

Show how you substitute the values into the formula, then use your calculator. *Use A = P(1+r/n)nt to find the amount of money in an account after t years, compounded n times per year. *Use I = Prt to find the amount of simple

1. ### Math

1. How much will \$800 deposited into a savings account at the end of each month be worth after 2 years at 6% interest compounded monthly? 2. How much will \$3,500 deposited at the beginning of each 3-month period be worth after 7

2. ### algebra

Suppose your parents deposited \$1,500 in an account saying 3.5% interest compounded annually (once a year) when you were born. I have to find the account balance after 18 years , please help

3. ### Lat math question for some days. Can y'all help?

Huan deposited \$850 into a college savings account earning 4.8% interest compounded annually. He also deposited \$850 into a second account earning 4.8% simple interest. He made no additional deposits. After 10 years, which account

4. ### Math

Please help me and show an understanding please, so I see how to figure them out. Lee deposited \$28,000 in an interest-bearing checking account that earns 3.5% interest compounded daily. Find the amount after 68 days. a.\$183.16