document.write( "Question 539049: find compound interest on $450 for 2 years at 10% per annum compounded yearly\r
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Algebra.Com's Answer #353874 by jpg7n16(66) ![]() You can put this solution on YOUR website! Use this formula: \n" ); document.write( " \n" ); document.write( "p=original principal \n" ); document.write( "i=interest rate per compounding period \n" ); document.write( "n=number of compounding periods \n" ); document.write( "x=new amount of money \n" ); document.write( "So start pulling pieces from the question. \n" ); document.write( "-What was the original amount you started with? $450 (p) \n" ); document.write( "-What is the interest rate per compounding period? 10% (i) \n" ); document.write( "-How many times does it compound? 2 (n) \n" ); document.write( "-We are looking for X \n" ); document.write( "So take the original formula \n" ); document.write( " \n" ); document.write( "substitute in what you know, and solve for X \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "So you started with $450 and ended with $544.50. How much does that mean you earned? \n" ); document.write( " |