![maribel3621](/avatars/49668.jpg)
maribel3621
14.03.2020 •
Mathematics
Timothy put $300 in a bank that pays 7% interest rate, if he leaves his interest from the first year in the bank, how much money will he have in total after 2 years?
Solved
Show answers
More tips
- S Science and Technology Why is there no gravity on other planets?...
- F Food and Cooking Deflope: What is it and how does it work?...
- B Business and Finance How to Create a Business Plan? Your Ultimate Guide...
- F Food and Cooking Unusually Delicious Shashlik - Follow the Etiquette of Proper Preparation!...
- C Computers and Internet Make Easy Accessible Screenshots on iPad in Just a Few Minutes...
- T Travel and tourism Lost in the Catacombs: What to Do?...
- F Family and Home Protect Your Home or Apartment from Pesky Ants...
- H Health and Medicine How to Treat Styes: Causes, Symptoms, and Home Remedies...
- L Legal consultation What Documents Are Required for a Russian Passport?...
- F Family and Home How to Properly Use a Water Level?...
Answers on questions: Mathematics
- M Mathematics 9/22 +1/11 in simplest form...
- M Mathematics Evan purchased a package that contains 2 yards of trim material. Does the package contain enough trim material to outline the wooden E ? If, so how much extra material...
- M Mathematics What is the volume of the right rectangular prism, in cubic inches?...
- M Mathematics Seutas tali yang panjangnya 121 meter dipotong menjadi beberapa bagian sehingga dibuat deret geometri. Jika jumlah potongan terpendek 4 meter dan jumlah potongan terpanjang...
- M Mathematics What is the probability of spinning an A, then spinning a C? Write your answer as a percent (represent as a whole percent) %* ТА...
- M Mathematics On the circuit below, what is the current measured by the ammeter? Each resistor is 50 ohms, and the battery is 50 volts. A. 0.15 amperes B. 0.21 amperes C. 0.27 amperes...
- M Mathematics To make the color purple, Jamal’s art teacher instructed him to mix equal parts of red paint and blue paint. To make a different shade of purple, the ratio of red...
- M Mathematics Find the area of quadrilateral ABCD in each case. HElp PLEase ASAP...
- M Mathematics If n and pare positive integers and 4n/P = V1024, then the product of n and p is: (A) -1 (B) 20 (C) 24 (D) 28 (E) 32...
- M Mathematics Find the area of quadrilateral ABCD in each case. and Find the area of the polygon. Help Please asap...
Ответ:
he would have $343.47 after 2 years.
Step-by-step explanation:
if he leaves his interest from the first year in the bank, we would assume that his interest was compounded. We would apply the formula for determining compound interest which is expressed as
A = P(1+r/n)^nt
Where
A = total amount in the account at the end of t years
r represents the interest rate.
n represents the periodic interval at which it was compounded.
P represents the principal or initial amount deposited
From the information given,
P = $300
r = 7% = 7/100 = 0.07
n = 1 because it was compounded once in a year.
t = 2 years
Therefore,.
A = 300(1 + 0.07/1)^1 × 2
A = 300(1.07)^2
A = $343.47
Ответ:
9990 inches
Step-by-step explanation: