Jose invests $3,250 at 6% interest compounded annually. What will be the balance in the account after 3.5 years?
1 answer:
So he invests 3,250 dollars for year!
Interest: 3,250 x 0.06 = $195
Per Year: 3,250 + 195 = 3,445 dollars anually
3 Years: 3,445 x 3 = $10,335
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