Question

Kana opens a bank account with $200. The account accrues 10% interest compounded annually. How much money will Kana have in her account at the end of 2 years? (Use the formula A=P(1+rn)nt , where P = initial amount of money, r = interest rate, t = the number of years, and n = number of times the interest is compounded per year.)

Answer 1

Answer:

440

Step-by-step explanation:

Answer 2

Simply substitute the known values into the formula given.

A=P(1+rn)nt
A=200 x (1 + 1/10 x 1) x 1 x 2
A= 440

Kana has $440 at the end of two years.