Respuesta :
Hello!
Judging on the question you have provided I have generated this equation to represent the situation 400(1.03^x) X being years.
To solve this equation you need to plug in 16 for X amount of years.
The new equation should look something like this 400(1.03^16)
Lastly solve!
The answer you get should be $641.88
Hope this helped!
-Blake
Judging on the question you have provided I have generated this equation to represent the situation 400(1.03^x) X being years.
To solve this equation you need to plug in 16 for X amount of years.
The new equation should look something like this 400(1.03^16)
Lastly solve!
The answer you get should be $641.88
Hope this helped!
-Blake
the equation for interest is
'Initial amount (interest rate in decimal form) ^ times compounded EX: years'
your equation would be
400(1.03)^16
which equals 641.882576 (not rounded)
'Initial amount (interest rate in decimal form) ^ times compounded EX: years'
your equation would be
400(1.03)^16
which equals 641.882576 (not rounded)