Dylan invested $600 in a savings account at 1.6% annual interest rate. he made no deposits or withdrawals on the account for two

Question

2 years ago

5

years. The interest was compounded annually. find to the nearest cent the balance in the account after two years.
The formula is A=p(1+r)^t

1 answer:

Arada [10] · Answer 1 · 2022-07-16T20:20:27+03:00

Arada [10]2 years ago

4 0

Ok so formula is <span>A=p(1+r)^t
</span>A=600 (1+.016)squared
A=$619.35

Hope that helped :)