Hanson Ortiz
05/13/2024 · High School

posited \( \$ 3400 \) into a savings account \( 0.2 \% \). Find the amount in the savings

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To find the amount in the savings account after depositing \$3400 at a 0.2% interest rate, use the formula \( A = P(1 + r)^t \), where \( A \) is the total amount, \( P \) is the principal (\$3400), \( r \) is the interest rate (0.002), and \( t \) is the time in years. For 1 year, the amount would be \$3406.80.

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