Jim opened an account with $400. the account pays 3 percent quarterly. how much is in the account at the end of 2 years? round to the nearest dollar.
use the compound interest formula, the formula a = p (1 + r/n) ^nt

The money in the account at the end of 2 years is $424.64 .

Step-by-step explanation:

Formula

Where A is the amount , r is the rate of interest in the decimal form , t is the time in years and n is compouding period .

As given

Jim opened an account with $400. The account pays 3 percent quarterly. How much is in the account at the end of 2 years .

p = $400

n = 4

t = 2 years

3% is written in the decimal form

= 0.03

r = 0.03

Put all the values in the formula

A = 400 × 1.0616

A = $424.64

Therefore the money in the account at the end of 2 years is $424.64 .

mk./km: lm

step-by-step explanation:

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; mk

lk

find the magnitude of the trig term  

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tap for more

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find the upper bound of the range.

tap for more

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step-by-step explanation: