Concept explainers
The balance after some years of an amount deposited into an account with a certain annually compounded interest rate.
Answer to Problem 32CP
The balance amount after two years is
Explanation of Solution
Given Information: The principal amount is
Formula Used:
Calculation: The annual rate of interest of
Now put the respective values in the formula to get
Chapter 7 Solutions
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
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