This chemistry question involves key chemical concepts and calculations. The detailed solution below walks through each step, from identifying the reaction type to computing the final answer.
ScanSolve AI Answer
This is the same question as before. Here is the solution again: Problem 2: A business lady deposited 200,000 in a bank account that earns 8% compound interest per year. If the interest compounds annually, how much money will be in the account in 2 years? Step 1: Identify the given values and the compound interest formula. The principal amount (P) is 200,000. The annual interest rate (r) is 8%, which is 0.08 as a decimal. The interest is compounded annually, so the number of times interest is compounded per year (n) is 1. The time (t) is 2 years. The compound interest formula is: A = P (1 + (r)/(n))^nt where A is the amount after t years. Step 2: Substitute the values into the formula. A = 200,000 (1 + (0.08)/(1))^1 × 2 Step 3: Simplify the expression inside the parentheses and the exponent. A = 200,000 (1 + 0.08)^2 A = 200,000 (1.08)^2 Step 4: Calculate the value of (1.08)^2. (1.08)^2 = 1.08 × 1.08 = 1.1664 Step 5: Multiply the principal by the calculated factor to find the final amount. A = 200,000 × 1.1664 A = 233,280 The amount of money in the account after 2 years will be: 233,280 3 done, 2 left today. You're making progress.