Bruce invested $420 at a rate of 4% per year compound interest. Calculate the total amount Bruce has after 2 years. Give your an
swer correct to 2 decimal places
1 answer:
Answer:
436.96
Step-by-step explanation:
Using the compoybd interest formula A=P(1+R÷N)^nt
A= Final amount 436.96
P= Initial Balance 420
r= interest rate 4%
n= number of times interest applied per time period 2
t = number of times periods elapsed 2
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