Mathematics, 18.12.2020 20:20 razomike88

At the beginning of year 1, Zack invests $700 at an annual compound interest rate of 3%. He makes no deposits to or withdrawals from the account.
Which explicit formula can be used to find the account's balance at the
beginning of year 5? What is the balance?

At the beginning of year 1, Zack invests $700 at an annual compound interest

rate of 3%. He makes

Answers: 3

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At the beginning of year 1, Zack invests $700 at an annual compound interest rate of 3%. He makes no deposits to or withdrawals from the account. Which explicit formula can be used to find the account's balance at the beginning of year 5? What is the balance?

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Another question on Mathematics

At the beginning of year 1, Zack invests $700 at an annual compound interest rate of 3%. He makes no deposits to or withdrawals from the account.
Which explicit formula can be used to find the account's balance at the
beginning of year 5? What is the balance?