Question

You deposit 400 in a bank account at 5% interest compunded annually. How much amount would you have
obtained after 2 years?

● 420
● 430
● 441
● 461​

Answer 1

Answer:

hi!

the answer will be 420

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Answer 2

Answer:

441

Step-by-step explanation:

$A = P ( 1 + \frac{r}{100} )^{n}$

$= 400 ( 1 + \frac{5}{100} )^{2}$

$= 400 ( \frac{105}{100} * \frac{105}{100} )$

$= 400 * \frac{11025}{10000}$

$= 441$ (option c)