MaeSong
Answered

Suppose Katie places $4000 in an account that pays 18% interest compounded each year. Assume that no withdrawals are made from the account. Follow the instructions below. Do not do any rounding. (a) Find the amount in the account at the end of 1 year. (b) Find the amount in the account at the end of 2 years

Answer :

purplemoon0102

Answer:

A) $48,720  B) $97,440

Step-by-step explanation:

A)

185 of 4000 = 720

12 months per year

4000 times 12 + 720

48000 + 720 = $48,720

B) 48,720 times 2 = $97,440

*wow she has a bunch of dough*

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