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Suppose that $9500 is placed in an account that pays 9% interest compounded each year.
Assume that no withdrawals are made from the account.
Follow the instructions below. Do not do any rounding.
(a) Find the amount in the account at the end of 1 year.
so
(b) Find the amount in the account at the end of 2 years.
$
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Suppose that 9500 is placed in an account that pays 9 interest compounded each year Assume that no withdrawals are made from the account Follow the instructions class=

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Answer:

$11286.95 second year

$10335 first year

Step-by-step explanation:

9% of 9500 is 855, 9500 plus 855 = 10335. (first year)

9% of 10335 is 931.95, and 10335+931.95 is 11286.95. (second year)

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