24yepesa 24yepesa

23-03-2020
Mathematics

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Denise deposited $300 in an savings account earning 1% interest, compounded annually.How much interest will she earn in 2 years

Respuesta :

Llamaland9 Llamaland9

23-03-2020

Answer:

she'll earn $6.03 in interest

Step-by-step explanation:

A = P(1 + r)^(t)

A = 300(1+.01)^2 = 300(1.01^2) = 306.03

So she will earn 306.03 - 300 = $6.03 in two years

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