Posted by **isabel** on Tuesday, October 28, 2008 at 3:15pm.

you deposit $ 900 in a savings account that earns 4%interest coumpounded once a year and has no service charges. you donot make any deposits or withdrawals to the account for two years. at the end of two years, after the second year's interest has been added to the account by the bank, how much money will be in the account?

A $908.00

B $936.00

C $954.54

D $973.44

- math -
**taylor**, Tuesday, October 28, 2008 at 3:54pm
D. 973.44

because 900* .04= 36

36+900= 936

and

936*.04= 37.44

37.44+ 936= 973.44

beacuse 4% in decimal form is .04 and 4% is earned each year hope this helps!

- math -
**Kelsie**, Tuesday, October 28, 2008 at 10:33pm
You would want to set up a porportion.

4 x

------ = -------

100 900

So then your going to cross multiply.

4x900=3600 Then your going to divide by the remaining number.

3600/100=36.

so then your going to take 36 and x it by 2. Then add that number too 900.

You should get $972 if you the equation right.

Hope that helps.

## Answer This Question

## Related Questions

- Math - Mona opened a savings account with a $500 deposit and a simple interest ...
- math - Suppose that you deposit $1735.50 in a savings account that pays 9.25% ...
- Algebra - Suppose that you deposit $1735.50 in a savings account that pays 9.25...
- Engineering Econonmy - You decide to open an IRS-approved retirement account at ...
- College level math - Suppose you deposit $100 in an account that earns 0.5% each...
- Precalc growth and decay - Alison deposits $500 into a new savings account that ...
- Interest - Jim opens a savings account with a deposit of $10,000. If the account...
- Math - (a) Themba wants to deposit a sum of money into a savings account so that...
- Economics - Ben deposits $5000 now into an account that earns 7.5 percent ...
- Math - Suppose you deposit $400 in an account that earns 0.75 percent each ...

More Related Questions