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You deposit $100 in a savings account. The account earns 11% simple interest per year. a. What is the interest earned after 10 years? The interest earned is $ after 10 years. b. What is the balance after
asked
May 26, 2022
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22
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You deposit $100 in a savings account. The account earns 11% simple interest per year.
a. What is the interest earned after 10 years?
The interest earned is $
after 10 years.
b. What is the balance after 10 years?
The balance is $
after 10 years.
Mathematics
high-school
Glennular
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1
Answer
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Answer:
a. ----> $10
b. ----> $110
Explanation:
principle
(
p
)
=
$
1
0
0
t
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m
e
(
t
)
=
1
0
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e
a
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=
1
1
%
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(
p
×
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÷
1
0
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=
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$
1
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0
×
1
1
×
1
0
)
÷
1
0
0
=
1
1
0
0
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÷
1
0
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=
$
1
1
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t
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r
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s
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p
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$
1
1
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-
$
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=
$
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M
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Wnvko
answered
Jun 1, 2022
by
Wnvko
7.3k
points
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