erinmcdonaldr6497 erinmcdonaldr6497

07-01-2018
Mathematics

contestada

What is the compound amount after five years of $200 deposited at 10% interest compounded annually? a) $121.20 b) $161.10 c) $322.10 d) $162.00?

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poppopularbee3 poppopularbee3

07-01-2018

We would use a specific formula to answer this question: (attached)
So, P= $200, r=0.1, n=1, and t=5
So, input the values and the answer you would get is $332.10.

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