Joey opened a savings account and deposited 300.00 as principal. The account earns 9% interest, compounded annually. How much interest will he earn after 2 years?Round your answer to the nearest cent.

Solución

Solución

Interest : 56.43

Pasos de solución

Translate the problem into an equation:

356.43 = 300 + I

Resolver para

I, 356.43 = 300 + I : I = 56.43

Interest : 56.43

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