charges.you do not make any deposites or withdrawals to the account for two years.at the end of two years,after the second year's interest has been added to the account by the bank, how much money will be in the account?
a.$908.00
b.$936.00
c.$954.54
d.$973.44
2006-06-06 09:11:16 · 4 answers · asked by Anonymous in Science & Mathematics ➔ Mathematics
D.
2006-06-06 09:17:43 · answer #1 · answered by Nelson_DeVon 7 · 0⤊ 0⤋
D. $973.44
You take the $900 times 4% interest for the 1st yr = $936 total in the account. Compounded means the interest also collects interest so the 2nd year you earn 4% on $936 for a total of $973.44
2006-06-06 09:34:34 · answer #2 · answered by tressa1220 3 · 0⤊ 0⤋
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2016-10-30 08:03:28 · answer #3 · answered by sikorski 4 · 0⤊ 0⤋
900x0.04=36
936x0.04=37.44
973.44 after 2 years (D)
2006-06-13 03:50:27 · answer #4 · answered by Anonymous · 0⤊ 0⤋