haileydollens haileydollens
  • 04-04-2020
  • Mathematics
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In account is gaining value at a rate of 4.9% per year that account held $150 and it's first year how much will be in the account after 10 years

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qop
qop qop
  • 04-04-2020

Answer:

$242

Step-by-step explanation:

You will need to use the compound interest formula for this.

[tex]P(1+\frac{r}{n} )^{nt}[/tex]

P = initial balance

r = interest rate

n = number of times compounded annually

t = time

Your equation will look like this:

[tex]150(1+\frac{.049}{1} )^{10}[/tex] = $242

Your answer is: $242

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