sasorimymans sasorimymans

04-04-2020
Mathematics

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A. If the bank provides an annual percentage yield of 3.2%, what will be the balance when lucy turns 1? turns 2? turns 3?

A If the bank provides an annual percentage yield of 32 what will be the balance when lucy turns 1 turns 2 turns 3 class=

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Officialalehpeter Officialalehpeter

04-04-2020

Answer:

1 year=3.2%

2 year=6.4%

3 year=9.6%

Step-by-step explanation:

Since the% increases every year

So for the first year=

3.2% of 1

3.2%×1

3.2%

For second year

3.2% ×2

6.4%

For the third year

3.2% × 3

9.6%

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