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16 September, 04:14

Mika placed $4200 in a savings account which compounds interest continuously at a rate of 2.3%. How much will she have in the account after 3 years? Round to the nearest dollar.

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  1. 16 September, 05:42
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    Mika placed $4200 in a savings account which compounds interest continuously at a rate of 2.3%.

    How much will she have in the account after 3 years?

    1st year 4200 x 1.023 = 4296.60

    2nd year 4296.60 x 1.023 = 4395.4218

    3rd year 4395.4218 x 1.023 = 4496.5165

    Round to the nearest dollar.

    $4497
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