Correct answers only please!
2 answers:
Answer: $86.25
Step-by-step explanation:
For this problem, we are given p, r, t.
p=70 (starting amount)
r=0.11 (11%)
t=2 (years)
We can plug this into the equation B=p(1+r)^t
B=70(1+0.11)^2
B=86.247
Sam would have $86.25
Answer:
$86.25
Step-by-step explanation:
B = p(1 + r)t must be written as B = p(1 + r)^t. The "^t" denotes exponentiation.
Then, with B = p(1 + r)^t, we need to insert $70 for p, 0.11 for r and 2 for t:
B = $70(1 + 0.11)^2 = $86.25
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