P4-7 (similar to)

Question Help

Suppose you invest

$ 800$800

in an account paying

3 %3%

interest per year.a. What is the balance in the account after

33

years? How much of this balance corresponds to "interest on interest"?b. What is the balance in the account after

3030

years? How much of this balance corresponds to "interest on interest"?a. What is the balance in the account after

33

years?The balance in the account (with compounded interest) after

33

years is

$nothing.

(Round to the nearest cent.)