+0  
 
0
79
1
avatar

How many dollars in interest are earned in two years on a deposit of $10,000 invested at 4.5% and  compounded annually? Express your answer to the nearest cent.

Guest Feb 18, 2018

Best Answer 

 #1
avatar+12266 
+1

10,000(1+.045)^2  - 10,000 = $920.25 interest after two years.

ElectricPavlov  Feb 18, 2018
edited by ElectricPavlov  Feb 18, 2018
edited by ElectricPavlov  Feb 18, 2018
Sort: 

1+0 Answers

 #1
avatar+12266 
+1
Best Answer

10,000(1+.045)^2  - 10,000 = $920.25 interest after two years.

ElectricPavlov  Feb 18, 2018
edited by ElectricPavlov  Feb 18, 2018
edited by ElectricPavlov  Feb 18, 2018

9 Online Users

avatar

New Privacy Policy (May 2018)

We use cookies to personalise content and advertisements and to analyse access to our website. Furthermore, our partners for online advertising receive pseudonymised information about your use of our website. Please click on "Accept cookies" if you agree to the setting of cookies. Cookies that do not require consent remain unaffected by this, see cookie policy and privacy policy.