Find the balance on a deposit of $818, earning 4% interest compounded annually for 2 years.

The balance on a deposit of $818, earning 4% interest compounded annually for 2 years is $884.749.and this can be determined by using the compound interest formula.

Given :

The balance on a deposit of $818, earning 4% interest compounded annually for 2 years.

The formula of compound interest can be used to determine the final balance. The formula of compound interest is given by:

     ---- (1)

where A is the final amount, P is the initial amount, n is the number of times interest applied,  and t is the number of time periods elapsed.

Now, substitute the value of known terms in equation (1).

A = $884.749

So, the balance on a deposit of $818, earning 4% interest compounded annually for 2 years is $884.749.

For more information, refer to the link given below:

link

Step-by-step explanation:

Amount is expressed as

A is the amount compounded after 2 years

P is the amount deposited (Principal)

r = rate (in %)

t = time taken (in years)

n = 1 year (since interest was compounded annually)

Given P = $818, r = 4%, t = 2 years

On substituting;

Therefore, balance on the deposit of $818, earning 4% interest compounded annually for 2 years is $884.749

an altitude of 15,000 feet

step-by-step explanation:

answer: 80,000

step-by-step explanation:

the population doubles every day.

10,000*2=20,000 day 4

20,000*2=40,000 day 5

40,000*2=80,000 day 6