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How many dollars in interest are earned in two years on a deposit of $10,000 invested at 4.5% and compounded annually? Express your answer to the nearest cent.

How many dollars in interest are earned in two years on a deposit of $10,000 invested at 4.5% and compounded annually? Express your answer to the nearest cent.
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3 votes
How many dollars in interest are earned in two years on a deposit of $10,000

invested at 4.5% and compounded annually? Express your answer to the nearest cent.

User Alireza Zojaji
by
8.4k points

1 Answer

2 votes

Answer:

$900

Explanation:

I=PRT

=10,000×(4.5/100)×2

User Thestarsatnight
by
8.2k points
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