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OpenStudy (prestons2019):
Ceasar opens a bank account and makes an initial deposit of $800. The banker tells Ceasar that he is going to receive an annual rate of 10% on his investment. Find the bank balance assuming Tom leaves the account untouched for 8 years.
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OpenStudy (prestons2019):
please help!!!
OpenStudy (young_dru):
800x.10=.80 then times bye 8
OpenStudy (prestons2019):
im confused
OpenStudy (retireed):
Have you seen this formula.... A = P (1+ ir)^N
OpenStudy (prestons2019):
no I havent
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OpenStudy (retireed):
Then review your book or notes, if you can't find it then you will have to do it the hard way...
OpenStudy (retireed):
The hard way is to calculate the interest earned each year and to apply the interest to the previous year's principal....
OpenStudy (retireed):
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