Question

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

Answer 1

Answer:

663.90

Step-by-step explanation:

use a compound intrest calculator

Answer 2

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