Find the balance in the account... $2,400 principal earning 2%, compounded annually, after 7 years

2 answers:

3 0

A = $ 2,736.00

Equation:
A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 2%/100 = 0.02 per year,
then, solving our equation

A = 2400(1 + (0.02 × 7)) = 2736
A = $ 2,736.00

The total amount accrued, principal plus interest,
from simple interest on a principal of $ 2,400.00
at a rate of 2% per year
for 7 years is $ 2,736.00.

Jlenok [28]3 years ago

3 0

Answer:

$ 2,736.00

Step-by-step explanation:

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