Math

posted by .

1. you deposit $200 into a savings account with interest compounded. annually, the expression 200(1+R)^
2, where R is the interest rate, gives the account balance after 2 years. Expand this expression and simplify. Find the account balance if R=0.04.

THANKS!!!!! A LOT!!

  • Math -

    P = 200 (1+R)^n
    P = 200 (1.04)^2
    = $216.32

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Math

    Please check my work, thank you If $7,800 is deposited into an account paying 6% interest compounded annually (at the end of each year), how much money is in the account after 2 years?
  2. math

    If you have a savings of $2235 and deposit the amount into an account that pays 2% annual interest, compounded monthly, what is the balance in the account after 4 years?
  3. Pre Algebra

    You deposit $3350 into a savings account that earns 5% interest compounded annually. Find the balance of the account after 2 years. Round your answer to the nearest cent
  4. Algebra

    Show how you substitute the values into the formula, then use your calculator. *Use A = P(1+r/n)nt to find the amount of money in an account after t years, compounded n times per year. *Use I = Prt to find the amount of simple interest …
  5. math

    Suppose that you deposit $1735.50 in a savings account that pays 9.25% annual interest with interest credited to the account at the end of each year. Assuming no withdrawals are made, find the balance in the account after 4 years
  6. math

    Rob has a balance of 1695$ in his bank account The account pays 2.9% interest per year, compounded annually. The compound interest formula is A=P(1+i)^n A=future value\P=principal/i+interest rate/n=number of payments rods balance will …
  7. Math

    (a) Themba wants to deposit a sum of money into a savings account so that he will have R30 000 in 3 years time for an overseas holiday how much money must he deposit into the account if the interest paid on the savings is 8,5% p.a …
  8. Math

    I need to see how this is answered. 1. Lauren deposited $200 into her savings account with 1% interest rate compounded annually. After 4 years her balance was $208.12. Colby deposited $200 into a savings account that earned a 2% simple …
  9. math help Please?

    1. A savings account is started with an initial deposit of $500. The account earns 1.5% interest compounded annually. (a) Write an equation to represent the amount of money in the account as a function of time in years. (b) Find the …
  10. Algebra

    I don't understand how to do this problem: A savings account is started with an initial deposit of $500. The account earns 1.5% interest compounded annually. (a) Write an equation to represent the amount of money in the account as …

More Similar Questions