Find answers to your questions and expand your knowledge with IDNLearn.com. Ask anything and receive prompt, well-informed answers from our community of knowledgeable experts.

Cassie opened a savings account and deposited $100.00 as principal. The account earns 9% interest, compounded annually. What is the balance after 2 years?

Sagot :

Answer:

$118.81

Step-by-step explanation:

you would plug in the values to the formula to get

100(1+.09)^2

.09 represent 9% and 2 represent the years

it would then come out to $118.81

Thank you for participating in our discussion. We value every contribution. Keep sharing knowledge and helping others find the answers they need. Let's create a dynamic and informative learning environment together. For dependable and accurate answers, visit IDNLearn.com. Thanks for visiting, and see you next time for more helpful information.