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At the beginning of every year, Molly deposits $200 in a savings account that offers an interest rate of 20%, compounded annually. The total amount that Molly will have in her account at the end of 3 years is

Verified Answer :

Kalahira

The total amount of money that Molly will have after depositing a certain amount with interest that is compounded annually is calculated through the equation,

                F = P x (1 + i)^n


Substituting the known values from the given above,

             F = ($200)(1 + 0.20)^3

              F = $345.6

 Therefore, the answer to this item is $345.6.

Answer:

$873.60

Step-by-step explanation:

it was correct for plato

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