xxxCaitlynxxx xxxCaitlynxxx

07-02-2017
Mathematics

Answered

Hank makes a deposit to his bank of $200. His bank rewards him with an annual interest rate of 8%

Which of the following is the equation for Hank’s bank account that will show its total amount y, at any year x.

AY=200 + 1.08^x
BY= 200 + 0.92^x
CY= 200 0.08^x
DY=200 1.08^x

Also, what is the rate for Hanks bank account?

Verified Answer :

scarletred545 scarletred545

07-02-2017

The answer should be c since the 8% represents 8 cents and when you multiply it with the 200$ you should get a rate

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