document.write( "Question 895973: A business invests $25,000 in an account that earns 5% interest compounded annually. What is the balance in the account after 2 years? \n" ); document.write( "
Algebra.Com's Answer #543126 by jim_thompson5910(35256)![]() ![]() ![]() You can put this solution on YOUR website! We'll use the formula\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "where\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "P = 25000 (the principal or initial balance) \n" ); document.write( "r = 0.05 (interest rate as a decimal) \n" ); document.write( "n = 1 (we're compounding 1 time per year) \n" ); document.write( "t = 2 (for 2 years)\r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "The balance of the account in two years is $27,562.50 \n" ); document.write( " |