Respuesta :

  • I=P(1+r/100)^t
  • I=7(1+0.1)²
  • I=7(1.1)²
  • I=7(1.21)
  • I=$8.47
semsee45

Answer:

$8.47

Step-by-step explanation:

Annual Compound Interest Formula

[tex]\large \text{$ \sf A=P(1+r)^{t} $}[/tex]

where:

  • A = final amount
  • P = principal amount
  • r = annual interest rate (in decimal form)
  • t = time (in years)

Given:

  • P = $7
  • r = 10% = 0.1
  • t = 2 years

Substituting the given values into the formula:

[tex]\implies \sf 7(1+0.1)^2=8.47[/tex]

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