SOLUTION: If $130 is invested in a savings account that earns 4% interest per year, which of the following is closest to the amount in the account at the end of 10 years?
A) $218
B) $192
Algebra.Com
Question 998177: If $130 is invested in a savings account that earns 4% interest per year, which of the following is closest to the amount in the account at the end of 10 years?
A) $218
B) $192
C) $168
D) $324
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
^{nt})
Where 
is the future value, 
is the principal invested, 
is the interest rate expressed as a decimal, 
is the number of compounding periods per year, and 
is the number of years.
For your problem, is what you want to calculate, is $130, is 0.04, is 1, and is 10.
John
My calculator said it, I believe it, that settles it
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