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Vinvika [58]
3 years ago
9

What is the balance on a deposit of $1,150 that earns 9% interest compounded annually for 2 years

Mathematics
1 answer:
igor_vitrenko [27]3 years ago
3 0
Step One: Calculate interest.

1150*0.09=103.5

Step Two: Calculate the amount at the end of the first year.

1150+103.5=1253.5

Step Three: Calculate the amount at the end of the second year. This will be your final answer.

1253.5+103.5=1357

$1357 balance
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