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Alexander invested $320 in an account paying an interest rate of 1.5% compounded annually. Assuming no deposits or withdrawals are made, how much money, to the nearest hundred dollars, would be in the account after 18 years?

Respuesta :

Answer:400

Step-by-step explanation:p=30 r=0.015 t=18

The amount that should after 18 years is $418

Given that,

  • Alexander invested $320 in an account paying an interest rate of 1.5% compounded annually.

calculation:

[tex]= \$320 \times (1 + 1.5\%)^{18}[/tex]

= 418

Learn more about the interest rate here: https://brainly.com/question/4626564?referrer=searchResults

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