Angela12Mari
Answered

At Westonci.ca, we make it easy for you to get the answers you need from a community of knowledgeable individuals. Get detailed answers to your questions from a community of experts dedicated to providing accurate information. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

pleeeeeeeease help me im so confused!!!  m has put $500 into a savings account that pays her 2% annual interest, how much will her $500 be worth after 2 months?

Sagot :

first form an equation: 500+(500*0.02x)=y
2% is the annual interest so 2 months would be 1/6 (of 2%.
2% of $500 is $10. 1/6 of of $10 is $1.67.
Add that to your initial $500, and you get $501.67, so your $500 dollars will be worth $501.67 after 2 months
apologiabiology
so m puts in 500 dollars
it's 2% or 2/100 in a year or 12 months
so in 2 months or 1/6 year
she will get 2/600=0.33%
so 0.33% of 500=1.6666
1.6666+500=501.666
that's great considering that after 4 years saving at wells fargo I only got 16  cents interest
We hope our answers were helpful. Return anytime for more information and answers to any other questions you may have. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.