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

please help me solve for
Experts agree that the minimum time period for cardiorespiratory benefit from exercise is _______ minutes.      A. 20B. 10C. 60D. 30
Kelly and 23 friends go roller skating.They pay a total of 186 dollars. About how much does it cost  for one person to skate?
3. Bursting through the door, the flustered mother mother screamed uncontrollably at the innocent teacher who gave her child an F. Tone:______________________ C
Which energy types are renewable?
the region of flat land down by the ocean
plrase help a little stuck here
What kind of consumers do omnivores eat?
a giraffe can run 32 miles per hour. what is this speed in feet per second
fructuse, sucrose, and starch are all examples of ? carbohydrates, lipids,nucleic acids or proteins?