Register
Dalton has $40 in an account that earns 10% interest compounded annually. To the nearest cent, what will be the total amount of money in his account after two years? $52.25 $40.00 $8.40 $48.40
7.3k views
3 votes
Dalton has $40 in an account that earns 10% interest compounded annually.

To the nearest cent, what will be the total amount of money in
his account after two years?

$52.25

$40.00

$8.40

$48.40

User Will Abule
by
7.2k points

1 Answer

3 votes
$48.40
Formula for compound intrest = a(1+r/10)^n
40(1+10/100)^2
40x(11/2)^2
=48.4
User Andres D
by
7.7k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

8.5m questions

11.1m answers

Other Questions

What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Write words to match the expression. 24- ( 6+3)
Link Copied!