7.7k views
3 votes
Kana opens a bank account with $200. The account accrues 10% interest compounded annually. How much money will Kana have in her account at the end of 2 years? (Use the formula A=P(1+rn)nt , where P = initial amount of money, r = interest rate, t = the number of years, and n = number of times the interest is compounded per year.)

2 Answers

3 votes

Answer:

440

Explanation:

User Rahul Hendawe
by
8.3k points
5 votes
Simply substitute the known values into the formula given.

A=P(1+rn)nt
A=200 x (1 + 1/10 x 1) x 1 x 2
A= 440

Kana has $440 at the end of two years.
User Simplethemes
by
8.2k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories