Mathematics, 17.06.2020 20:57 xlxJazmin

Find the balance on a deposit of $818, earning 4% interest compounded annually for 2 years.

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Answer from: monei1998

The balance on a deposit of $818, earning 4% interest compounded annually for 2 years is $884.749.and this can be determined by using the compound interest formula.

Given :

The balance on a deposit of $818, earning 4% interest compounded annually for 2 years.

The formula of compound interest can be used to determine the final balance. The formula of compound interest is given by:

$\rm A= P(1+\dfrac{r}{n})^{nt}$ ---- (1)

where A is the final amount, P is the initial amount, n is the number of times interest applied, and t is the number of time periods elapsed.

Now, substitute the value of known terms in equation (1).

$\rm A = 818(1+\dfrac{0.04}{1})^{1\times 2}$

$\rm A = 818(1.04)^2$

A = $884.749

So, the balance on a deposit of $818, earning 4% interest compounded annually for 2 years is $884.749.

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Answer from: maxB0846

$884.749

Step-by-step explanation:

Amount is expressed as $A = P(1+\frac{r}{n} )^{nt} \\$

A is the amount compounded after 2 years

P is the amount deposited (Principal)

r = rate (in %)

t = time taken (in years)

n = 1 year (since interest was compounded annually)

Given P = $818, r = 4%, t = 2 years

On substituting;

$A = 818(1+0.04)^{2} \\A = 818(1.04)^{2}\\A = 818(1.0816)\\A = 884.749$

Therefore, balance on the deposit of $818, earning 4% interest compounded annually for 2 years is $884.749

Answer from: Quest

step-by-step explanation:

1. practice, practice & more practice

2. review errors

3. master the key concepts

do not try to memorise the processes.

4. understand your doubts.

5. create a distraction free study environment

6. create a mathematical dictionary

7. apply maths to real world problems.

Answer from: Quest

Answer to your question: a. the fundamental theorem of algebra tells you that the equation will have two complex roots since the degree of the polynomial is 2. the roots are x=1±i7√2 .number of roots=degree of polynomialhere, degree of polynomial is 2 so number of roots will be 2.hope it *_*

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Find the balance on a deposit of $818, earning 4% interest compounded annually for 2 years....