3 years ago

Jason has $70 in a savings account that earns 5% interest, compounded annually.

Mathematics

2 answers:

Step2247 [10]3 years ago

7 0

$77.175
Rounded to nearest cent would be $77.18

kvv77 [185]3 years ago

5 0

Answer:

$77.18

Step-by-step explanation:

A = total amount

P = principal

I = interest

A = P(1 + r/n)^n·t

A = 70(1+.05)²

A = 70(1.05)²

A = 77.175

I = A - P

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