![tyme66](/avatars/9488.jpg)
tyme66
27.03.2020 •
Mathematics
Allie deposited $80 in a savings account earning 10% interest, compounded annually. To the nearest cent, how much will she have in 2 years?
Solved
Show answers
More tips
- A Animals and plants Why do cats go crazy over catnip?...
- W Work and Career Everything You Need to Know About MBA Programs...
- S Sport How to Do Push-ups Correctly?...
- S Style and Beauty How to Grow Hair Faster: Real Methods and Advice...
- F Family and Home How to Remove Fading from Clothes: Tips and Tricks...
- F Food and Cooking How to Make Polendwitsa at Home?...
- F Family and Home Parents or Environment: Who Has the Most Influence on a Child s Upbringing?...
- P Philosophy Unbelievable stories of encounters with otherworldly forces...
- L Leisure and Entertainment How to Choose the Perfect Gift for Men on February 23rd?...
- H Health and Medicine How to Treat Whooping Cough in Children?...
Answers on questions: Mathematics
- M Mathematics Tim buys fencing to put around his backyard. The fencing is sold in 6-ft long panels and costs $55 per panel. He needs 160 ft of fencing. What is the total cost of the panels?...
- M Mathematics Solve the inequality -7 I need help with this one !...
- M Mathematics Explain how you know that the product of 0.7 x 15.9 has 2 decimal places. what is the product of 0.7 x 15.9?...
- M Mathematics Aplayer s batting average was 0.29 rounded to the nearest hunderedth. express 0.29 as a percent. what would the answer...
Ответ:
The amount she have in two years is $96.8.
Given that,
Allie deposited $80 in a savings account earning 10% interest, compounded annually.
We have to determine,
How much will she have in 2 years.
According to the question,
Principal = $80,
Interest r = 10% = 0.1,
Time = 2 years
The amount she have in two years can be determined by following formula given below.
Substitute all the values in the formula,
Hence, The amount she have in two years is $96.8.
To know more about Exponential click the link given below.
link
Ответ:
$96.8
Step-by-step explanation:
Formular for Compounding annually :
A =P ( 1 + r/n) ^nt
Where p is the Principal given as $80
r is the rate given as 10% = 10/100 = 0.1
n is the number of times the principal was compounded, given as 1
t is the time, given as 2 years:
Slot the values into the formula:
A= $80 ( 1 + 0.1/1) ^ (1 × 2)
A= $80 ( 1 + 0.1) ^2
A= $80 ( 1.1) ^2
A= $80 (1.21)
A= $80 x 1.21
A= $96.8
96.8 is already rounded to the nearest cent.
Ответ:
Step-by-step explanation:
ok