(c) Marlene invests $550 at a rate of 1.9% per year compound interest

Mathematics

2 answers:

Vesnalui [34]3 years ago

5 0

Answer:

663.90

Step-by-step explanation:

use a compound intrest calculator

GaryK [48]3 years ago

4 0

Answer:

$ 663.90

Step-by-step explanation:

Calculate the amount (A) using

A = P $(1+r)^{t}$

where P is the principal, r is rate of interest and t is time in years

Here P = $550, r = $\frac{1.9}{100}$ = 0.019 and t = 10 then

A = 550 $(1+0.019)^{10}$

= 550 $(1.019)^{10}$

= $ 663.90

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