If you deposited $100 now (nequals0)and $200 two years from now (nequals2)in a savings account that pays 10% annual inte

Question

GalinKa [24]

3 years ago

14

If you deposited $100 now (nequals0)and $200 two years from now (nequals2)in a savings account that pays 10% annual inte

rest, how much would you have at the end of year 10?

Business

1 answer:

Natali5045456 [20] · Answer 1 · 2021-12-14T16:27:42+03:00

Answer:

The correct answer is: "You would have $589 the end of year 10".

Explanation:

The logics of the statement remains in the amount of money remained after 10 years of savings with a 10% annual interest. This means that, after you deposit $100 now (nº 0), on the first current year you would have ended up with $110, although in the second year (nº 2) you would have made a deposit of $200, which means you would have made total earnings of $310, plus the annual interest of $31. After the second year, all subsequent ones wound count on with an annual interest of $31, which means that at end of year 10 you would have reached the amount of $589.

(ps: mark as brainliest, please?!)

If you deposited​ $100 now ​(nequals​0)and​ $200 two years from now ​(nequals​2)in a savings account that pays​ 10% annual​ inte

If you deposited $100 now (nequals0)and $200 two years from now (nequals2)in a savings account that pays 10% annual inte