Question

Suppose that $9000 is placed in an account that pays 9% interest compounded each yea

Assume that no withdrawals are made from the account

Answer 1

Answer: A : 810 B : 1620

Step-by-step explanation: 9000 x 9% x 1

9000 x 9% x 2

P x R x T

Principle (Money started with) x Rate ( Interest Rate) x Time (Years)

Answer 2

1). $9810

2). $10,620

Explanation:

9000 x .09= 810

9000 + 810= 9810

810 x 2= 1620

9000 + 1620= 10,620