Question

Martha places $200 in a checking account that will earn 3% interest compounded annually. If she closes the account after two years and incurs a closing charge of $2.75, how much money will she have?

Answer 1

for interest compounded annually,
\[A=P(1+r)^t\]
In this case, subtract 2.75 for closing cost.
\[A=P(1+r)^t-2.75=200(1+.03)^2-2.75=$209.43\]

Answer 2

If the distance between two points on the coordinate axes is the square root of 65 , which of the following could be the coordinates of the two points?

Answer 3

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