Answered

Get the answers you need at Westonci.ca, where our expert community is always ready to help with accurate information. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

what is the balance on a deposit of $1,150 that earns 9% interest compounded annually for 2 years

Sagot :

iloveonedirection
Step One: Calculate interest.

[tex]1150*0.09=103.5[/tex]

Step Two: Calculate the amount at the end of the first year.

[tex]1150+103.5=1253.5[/tex]

Step Three: Calculate the amount at the end of the second year. This will be your final answer.

[tex]1253.5+103.5=1357[/tex]

$1357 balance
Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.