Ask Question
7 February, 11:10

How much would Keith have in his account after three years if he started with $200 and earns 2 percent interest, compounding annually?

+4
Answers (1)
  1. 7 February, 11:30
    0
    Compound interest means earning interest on the interest and principal balance from previous years!

    After 1 year, $200 x 1.02 = $204

    After 2 years, $204 x 1.02 = $208.08

    After 3 years, $208.08 x 1.02 = $212.24
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “How much would Keith have in his account after three years if he started with $200 and earns 2 percent interest, compounding annually? ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers