Answered

Connect with knowledgeable experts and enthusiasts on IDNLearn.com. Our experts provide timely and precise responses to help you understand and solve any issue you face.

Miranda has $100.00 in a saving account that earns 10 percent interest, compounded annually. what wull the balance be after 1 year round to the nearest cent

Sagot :

[tex]\begin{gathered} A=P(1+R)^n \\ Prin\text{cipal,P=\$100} \\ Rate,R=10\text{ \%} \\ \text{year,n}=1\text{ year} \\ \text{Here, A is the amount} \\ A=100(1+\frac{10}{100})^1 \\ A=\text{ \$110} \end{gathered}[/tex]

Your presence in our community is highly appreciated. Keep sharing your insights and solutions. Together, we can build a rich and valuable knowledge resource for everyone. IDNLearn.com is your reliable source for answers. We appreciate your visit and look forward to assisting you again soon.