Jim opened an account with $400. the account pays 3 percent quarterly. how much is in the account at the end of 2 years? round to the nearest dollar.
use the compound interest formula, the formula a = p (1 + r/n) ^nt

The money in the account at the end of 2 years is $424.64 .

Step-by-step explanation:

Formula

Where A is the amount , r is the rate of interest in the decimal form , t is the time in years and n is compouding period .

As given

Jim opened an account with $400. The account pays 3 percent quarterly. How much is in the account at the end of 2 years .

p = $400

n = 4

t = 2 years

3% is written in the decimal form

= 0.03

r = 0.03

Put all the values in the formula

A = 400 × 1.0616

A = $424.64

Therefore the money in the account at the end of 2 years is $424.64 .

go and ask your mom to you

i think it is 70

step-by-step explanation: