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14. You deposit $400 in a savings account that earns 7% interest compounded annually. a. Write a function that represents the balance after 1 years. b. What is the balance after…

14. You deposit $400 in a savings account that earns 7% interest compounded annually. a. Write a function that represents the balance after 1 years. b. What is the balance after…
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14. You deposit $400 in a savings account that earns 7% interest compounded annually.

a. Write a function that represents the balance after 1 years.
b. What is the balance after 2 years?

User Cateof
by
7.8k points

1 Answer

5 votes

Answer:

A=p(1+r/100)^n

=400(1+7/100)^2

=400*1.14

=456

User Skrunic
by
8.2k points
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