Luke deposits $650 into a savings account that earns 4% interest per year. How much money will be in his account after 8 years?
1 Answer
This question needs annual formula as the principle will be new every year
The formula is....
Where p is principle....
r is rate.....
t is time.......
You must know as of now..... that it can't be just done like that...... we're not calculators... so we'll just assume
Multiply
The real answer.... I checked... will be