aymirremosby aymirremosby
  • 01-05-2022
  • Mathematics
contestada

Edgar has $30 in an account that earns 5% interest compounded annually. To the nearest cent, how much interest will he earn in 2 years?

Respuesta :

YulTheNinja YulTheNinja
  • 01-05-2022

Answer:

Total Interest = $3.08

Step-by-step explanation:

A = P (1 + r/n)^(nt)

A = 30(1+.05/1)^(1*2)

A = 33.08

We want to find interest only so subtract principal amount from total value

33.08-30 = 3.08

Total Interest = $3.08

Total Value = $33.08

Mark brainliest please!

Answer Link

Otras preguntas

Who painted the image seen below? The Ognissanti Madonna. Jeremiah and Isaiah look up to a child held by its mother surrounded by angels. The painting has depth
I'm not sure about this one please I need someone to help me.
What happened to charlie when he went in the boat
Match each part of Sammi's model to the bodily structure it represents. One bodily structure has already been labeled for you.
Pls help the picture above .i will surely mark the first person as the brainliest
PLEASE HELP!!! (1/5) - 50 POINTS-
Allied Corporation is trying to sell its new machines to Ajax. Allied claims that the machine will pay for itself since the time it takes to produce the product
Write a paragraph to draw a conclusion about how events in American history affected the number of women in the workforce.
Question 8(Multiple Choice Worth 2 points) Which is not true for Late Byzantine painting? gold background O linear drapery O naturalistic poses O volumetric fig
It was time for a change. Lincoln looked deep within himself and searched for the recipe for a new country made from so many wild and unique ingredients. Which