jforeman42
17.07.2020 •
Mathematics
Peter deposited $5000 in a bank paying 5% interest compounded yearly. Find the balance in his account after 3 years.
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Ответ:
$5,788.13
Step-by-step explanation:
For any amount p , if rate of interest is r% yearly
its value after time t years is given by
value after t years = p(1 + r/100)^t
given
p = $5000
r = 5%
t = 3 year
balance after t years = 5000( 1 + 5/100)^3 = 5000(21/20)3
balance after t years = $5,788.13 (answer)
Ответ: