A savings account pays 2% interest compounded annually. If $1,200 is deposited initially and again at the first of each year, how much money will be in the account three years after the initial deposit?

Question

Revolt · Accepted Answer

$3,745.93

Modeling with Exponential and Logarithmic Equations — Unit test

A savings account pays 2% interest compounded annually. If $1,200 is deposited initially and again at the first of each year, how much money will be in the account three years after the initial deposit?

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