You put $500 in an account that earns 4% annual interest. The interest earned each year is added to the principal to create a new principal. Find the total amount in your account after each year for 3 years.

Year 1 = = $

Year 2 = = $

Year 3 = = $

Question

Aedan Villarreal

28 June, 15:19

+1

Answers (1)

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Davian Conway · Answer 1

Y1 - $520; $500 x 4% x 1 = $520 total

Y2 - $540; $500 x 4% x 2 = $540 total

Y3 - $560; $500 x 4% x 3 = $560 total

You put $500 in an account that earns 4% annual interest. The interest earned each year is added to the principal to create a new principal. Find the total amount in your account after each year for 3 years.Year 1 = = $Year 2 = = $Year 3 = = $