Janelle puts 200.00 into an account to use for school expenses. The account earns 13% interest, compounded annually. How much will be in the account after 10 years?

Solución

Solución

Amount : 678.91

Pasos de solución

Translate the problem into an equation:

A = 200 (1 + \frac{0.13}{1})^{1 \cdot 10}

200 (1 + \frac{0.13}{1})^{1 \cdot 10} = 678.91347 \dots

Round to the nearest hundredth:

678.91

Amount : 678.91

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