Math question help needed

label Accounting
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

You have $440 in an account which pays 4.6% compounded annually. If you invest your money for 4 years, then how many dollars of interest will you earn by the end of the term?

Jun 3rd, 2015

Thank you for the opportunity to help you with your question!

440*0.046*4=80

440[1.046]^4 =526

526-440=86


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Jun 3rd, 2015

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