You put $500 in an account that earns 4% annual interest. The interest earned each year is added to the principal to create a ne

Question

2 years ago

14

You put $500 in an account that earns 4% annual interest. The interest earned each year is added to the principal to create a ne

w principal. Find the total amount in your account after each year for 3 years.
Can you write an equation for this problem?
(Plz give an easy equation someone with the 7th grade percentage understanding can use, thank you, happy quarantine:)

Mathematics

1 answer:

gogolik [260] · Answer 1 · 2023-04-05T17:13:27+03:00

gogolik [260]2 years ago

4 0

Answer:

I = 60 is your answer

Step-by-step explanation:

Your formula is I = prt. Interest = percent x rate s time.

I= 500 x 4% x 3

I = 60 is your answer