Mr.Joseph recently received a notice that his average gas and electric bill would increase at the beginning of the year. He went
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Answer:
Step-by-step explanation:
What if i say NO?
jk
3*3=9
8+3=11
12-3=9
sp
9*11=99
2 area coverd so far
99+9=108
7*2=14
108+14=122
Lastly the tir
10-7=3
11-3-2=6
6*4=24
24/2=12
The total amount is $ 1015.82 and interest amount is $ 165.82
<em><u>Solution:</u></em>
<em><u>The formula for amount when interest is compounded annually is:</u></em>
Where,
"A" is the total amount
"P" is the principal
"r" is the rate of interest in decimal form
"n" is the number of years
<em><u>From given, $850 at 2% for 9 years, compounded annually</u></em>
P = 850
t = 9 years
<em><u>Substituting the given values we get,</u></em>
Thus total amount is $ 1015.82
Interest amount = Total amount - principal
Interest amount = 1015.82 - 850
Interest amount = 165.82
Thus total amount earned is $ 1015.82 and interest amount is $ 165.82