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lions [1.4K]
3 years ago
7

Darnel has $9 in a savings account. The interest rate is 10%, compounded annually.

Mathematics
1 answer:
aksik [14]3 years ago
6 0

9514 1404 393

Answer:

  $2.98

Step-by-step explanation:

The amount of interest earned is ...

  I = P((1 +r)^t -1)

  I = $9(1.1^3 -1) ≈ $2.98

Daniel will earn about $2.98 in interest in 3 years.

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