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Omar has 8,815 in an account that earns 10% interest compounded annually.To the nearest cent, how much will he have in 1 year?

Solución

Omar has 8, 815 in an account that earns 10% interest compounded annually.To the nearest cent, how much will he have in 1 year?

Solución

Amount : 9696.5

Pasos de solución

Translate the problem into an equation:

A = 8815 (1 + \frac{0.1}{1})^{1 \cdot 1}

8815 (1 + \frac{0.1}{1})^{1 \cdot 1} = 9696.5

Amount : 9696.5

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