Answer:
10.50
Step-by-step explanation:Harold deposited $70 in an account earning 5% interest compounded annually. To the nearest cent, how much interest will he earn in 2 years? Use the formula B=p(1+r)t, where B is the balance (final amount), p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.
Hey there,
By rounding 287.9412 to the nearest tenth, We look at the number in the tenth place which is 9. And by also looking at the number in the ones place which would be 4,we would round that back down to 0 because 4 is lower than 5 and what ever is lower, Go's down.
Your correct answer: 287.9
~Jurgen