Concept explainers
To Calculate: The balance amount of a deposit that earns an interest compounded annually.
Answer to Problem 49CR
The balance of the account after
Explanation of Solution
Given Information: The principal amount is
Formula Used:
Where,
Calculation: The annual interest rate
Put the given values in the formula to write
Therefore, the balance of the account after
Chapter 7 Solutions
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
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