no
What makes you think it is 3?
Make a table to find the balance in an account starting with $135 at 5% compounded annually for 2 years. In your last calculation, round to the nearest cent.
1 $136.10
2 $148.84
3 $141.75
4 $148.50
i think its 3 please help
5 answers
Reiny i dont know thats why im asking for help
would it be 4 because 135*0.05*2=13.5 and then add that to 135 to get 148.5
P = Po(1+r)^n.
Po = $135.
r = 0.05.
n = 2 compounding periods.
P = 135(1+0.05)^2 =
Po = $135.
r = 0.05.
n = 2 compounding periods.
P = 135(1+0.05)^2 =
no,
135(1.05)^2
= 135(1.1025
= 148.8375
which would be $148.84
formula: amount = principal( 1 + rate)^n
135(1.05)^2
= 135(1.1025
= 148.8375
which would be $148.84
formula: amount = principal( 1 + rate)^n