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avatar+1442 

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.

 

Thanks a bunch!

 #1
avatar+89996 
+1

Interest  earned =

 

Amount accumulated  - Original amount  = 

 

10000 ( 1 + .045)^2  - 10000  =  $920.25

 

 

cool cool cool

CPhill  Dec 3, 2017
 #2
avatar+1442 
+2

Thanks dude!


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