9) p(a) = a) – 3a; Find p(-2) A) 18 B) 198 C) -110 D) -2
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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.