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NeX [460]
3 years ago
14

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

Mathematics
1 answer:
valentinak56 [21]3 years ago
8 0
P = 1150, r = 9% = 0.09 per year, n = 2 years.

A = P(1 + r)ⁿ

A = 1150(1 + 0.09)²

A ≈ 1150(1.09)²  ≈ 1366.32
<span>
Amount </span> ≈ $ <span>1366.32</span>
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