Fedora invests $100. For the first year, the rate is 3%. The next year, the interest rate goes up to 4%. Which expression describes her investment after two years? A.

Question

Lily Hess

Mathematics

31 August, 04:21

Fedora invests $100. For the first year, the rate is 3%. The next year, the interest rate goes up to 4%. Which expression describes her investment after two years? A.

+5

Answers (1)

Know the Answer?

Ean Underwood · Answer 1

Step-by-step explanation:

Assuming this is a simple interest.

The interest amount for year 1 : 100*0.03 = 3 The interest amount for year 2: 100*0.04 = 4

So, after two year, the rate wont change, then we have the expression:

Investment = (4+3) + 100 (1+0.04n) = 100 (1+0.04n) + 7

(when n is year)