Question 137482
3,400 principle earning 3% compound after 5 years find the balance in the account...?
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A(t) = P(1+(r/n))^(nt)
A(5) = 3400(1+(0.03)/1)^(1*5)
A(5) = 3400(1.03)^5
A(5) = 3400*1.159274074..
A(5) = $3941.53
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Cheers,
Stan H.