NikkiZoeller NikkiZoeller

26-01-2018
Mathematics

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You put $201 into a investment at 9% for four years. What will be the balance be at the end of four years??

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natenut2006 natenut2006

07-02-2018

Depends if it is compounding interest or not. But assuming it is:

$201 x .09 = 18.09 (interest) = $219.09 (year 1)
$219.09 x .09 = 19.72 (interest) = $238.81 (year 2)
$238.81 x .09 = 21.49 (interest) = $260.30 (year 3)
$260.30 x .09 = 23.43 (interest) = $283.73 (year 4)

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