Answer:
After 11years there'll be$602.880
Step-by-step explanation:
Amount after 11years
=$400(1+3.8/100)¹¹
=$602.880
The after 11 years the amount will be $602.880
We have given that,
Ariana invested $400 in an account paying an interest rate of 3.8% compounded monthly.
[tex]A=p(1+r)^n[/tex]
Amount after 11 years,
[tex]P=$400r=3.8[/tex]
[tex]=\frac{3.8}{100} =0.38[/tex]
[tex]=$400(1+3.8/100)^{11}[/tex]
[tex]=$602.880[/tex]
Therefore the after 11 years the amount will be $602.880.
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