Math  /  Word Problems

QuestionNia invests \3100at23100 at 2% annual interest. Find her account balance in year 4 using A(n)=3100(1+0.02)^{n-1}$. Round to nearest dollar.

Studdy Solution
Calculate the total amount in the account in year4.
A(4)=3100×1.061208$328.34A(4)=3100 \times1.061208 \approx \$328.34Since we need to round to the nearest dollar, the final amount in the account in year4 will be \$328.
So, the correct answer is C. \$3290.

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