sjohansson22 sjohansson22

29-01-2021
Mathematics

contestada

Daniel has 120 dollars in the bank. He is earning 3.5% compound interest each month. How much money will he have in the bank in one year?

Respuesta :

sonicandmeggy sonicandmeggy

29-01-2021

Answer:

$1813.28

Step-by-step explanation:

Answer Link

clarch19 clarch19

29-01-2021

Answer:

$124.27

Step-by-step explanation:

A = Principal(1 + r/n)^nt

r = interest rate

n = # times compounded

t = # years

A = 120 (1 + .035/12)^12(1)

A = 120(1 + .0029)^12

A = 120(1.0029)^12

A = 120 x 1.0353

A = 124.27

Answer Link

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