ANSWER
$1,413.81
EXPLANATION
The compound interest formula is given by:
Where P=900 is the balance in the account, t=10 is the number of years and r=0.0462 is the rate.
We substitute the values in to the formula to get:
This simplifies to:
Therefore $1413.81 will be in the account after 10 years.
Answer:
+12.5%
Step-by-step explanation:
This is rather simple. Subtract 72 from 81, then put the difference over 72. Then, multiply that by 100.
(81 - 72)/72 * 100
<em>Subtract 72 from 81 to get 9</em>
9/72 * 100
<em>Multiply 9 by 100 to get 900</em>
900/72
<em>Simplify the above fraction by cancelling out 9.</em>
100/8
<em>Divide 100 by 8 to get 12.5%</em>
The percent of change is +12.5%