document.write( "Question 40878: one thousand dollars in a savings account pays 7% interest per year. The interest earned after the first year is added to the account. How much interest is earned on the new principle the following year?
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document.write( "(the answer is not $144.9)
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Algebra.Com's Answer #26271 by checkley71(8403) ![]() You can put this solution on YOUR website! 1000*.07=70 INTEREST AFTER THE FIRST YEAR \n" ); document.write( "1070*.07=$74.90 OR THE INTEREST EARNED ON THE PRINCIPLE OF $1070 DURING THE SECOND YEAR. \n" ); document.write( " |