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The Wrights are saving up to go on a family vacation in 3 years. They invest $2900 into an account with an annual interest rate of 1.34% compounded annually.
Answer the questions below. Do not round any intermediate computations, and round your final answers to the nearest cent. If necessary, refer to the
list of financial formulas.
(a) Assuming no withdrawals are made, how much money is in the Wrights'
account after 3 years?
(b) How much interest is earned on the Wrights' investment after 3 years?
Sagot :
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