kelly779 kelly779

05-03-2020
Mathematics

contestada

Savings Account You deposit $1800 into a savings account that
earns 2% interest compounded annually. Find the balance after
2 years.

Respuesta :

aniaraskye aniaraskye

05-03-2020

1st year interest = Price x time x rate
= $1800 x 1 x 0.02
= $36

2nd Year interest = Price x time x rate
= $1836 x 1 x 0.02
= $36.72

Total Interest = $36+$36.72
= $72.72

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