Miranda has $100.00 in a saving account that earns 10 percent interest, compounded annually. what wull the balance be after 1 year round to the nearest cent

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03-11-2022
Mathematics

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Miranda has $100.00 in a saving account that earns 10 percent interest, compounded annually. what wull the balance be after 1 year round to the nearest cent

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TeddieM356279 TeddieM356279 · Answer 1 · 2022-11-03T16:40:18-04:00

TeddieM356279 TeddieM356279

03-11-2022

[tex]\begin{gathered} A=P(1+R)^n \\ Prin\text{cipal,P=\$100} \\ Rate,R=10\text{ \%} \\ \text{year,n}=1\text{ year} \\ \text{Here, A is the amount} \\ A=100(1+\frac{10}{100})^1 \\ A=\text{ \$110} \end{gathered}[/tex]

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