ANSWER
$1,413.81
EXPLANATION
The compound interest formula is given by:
Where P=900 is the balance in the account, t=10 is the number of years and r=0.0462 is the rate.
We substitute the values in to the formula to get:
This simplifies to:
Therefore $1413.81 will be in the account after 10 years.
Option B
5 hundredths is not the way to express 0.50
<h3><u>Solution:</u></h3>Given that Three of the choices are ways to express 0.50
To find: wrong option
Let us first write 0.50 in different ways
<h3><em><u>To convert a Decimal to a Fraction follow these steps: </u></em></h3>Step 1: Write down the decimal divided by 1, like this: decimal 1.
Step 2: Multiply both top and bottom by 10 for every number after the decimal point. ...
Step 3: Simplify (or reduce) the fraction.
means 50 hundredths
On simplifying we can write,
means one half
Similarly, \frac{5}{10} means 5 tenths
<h3>Therefore Option C is also correct</h3>Thus the wrong option is B
<em><u>Justification:</u></em>
5 hundredths can be written as:
Therefore option B is wrong
