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Fiesta28 [93]
3 years ago
11

You deposit $300 in a savings account. The account earns 2% simple interest per year. What is the interest and balance earned af

ter 10 years?
Mathematics
1 answer:
kenny6666 [7]3 years ago
6 0

Answer:

$365.70

Step-by-step explanation:

The formula to find this is y = a(1+r)^t\\

For this, a is the initial amount, r is the growth rate percentage (but displayed as a decimal), and t is time.

So to solve, you would do

y = 300(1+0.02)^10\\y = 300(1.02)^10\\y = 365.698325998\\OR\\y = $365.7 in interest

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_________________________________________________________
Explanation:
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We are asked to simplify:

                  →    (\frac{2}{9})^3   

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Note the following property of exponents:
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( \frac{a}{b})^n  =  \frac{(a^n)}{(b^n)} ;  { b \neq0 } . 

_________________________________________________________
As such:

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The answer is:  
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Hope this answer—and explanation—is of some help to you.
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