Explanation :
<p><h3 data-start="164" data-end="197">Step 1: Annual growth formula</h3> <span class="katex-display"><span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML" display="block"><semantics><mrow><mi>P</mi><mo>=</mo><msub><mi>P</mi><mn>0</mn></msub><mo>×</mo><mo stretchy="false">(</mo><mn>1</mn><mo>+</mo><mi>r</mi><msup><mo stretchy="false">)</mo><mi>t</mi></msup></mrow><annotation encoding="application/x-tex">P = P_0 imes (1 + r)^t</annotation></semantics></math></span><br></span></span><p data-start="230" data-end="238">Where:</p> <ul data-start="239" data-end="304"> <li data-start="239" data-end="261"> <p data-start="241" data-end="261"><span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML"><semantics><mrow><msub><mi>P</mi><mn>0</mn></msub><mo>=</mo><mn>84,000</mn></mrow><annotation encoding="application/x-tex">P_0 = 84{,}000</annotation></semantics></math></span><br></span></p> </li> <li data-start="262" data-end="284"> <p data-start="264" data-end="284"><span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML"><semantics><mrow><mi>r</mi><mo>=</mo><mn>5</mn><mi mathvariant="normal">%</mi><mo>=</mo><mn>0.05</mn></mrow><annotation encoding="application/x-tex">r = 5\% = 0.05</annotation></semantics></math></span><br></span></p> </li> <li data-start="285" data-end="304"> <p data-start="287" data-end="304"><span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML"><semantics><mrow><mi>t</mi><mo>=</mo><mn>2</mn></mrow><annotation encoding="application/x-tex">t = 2</annotation></semantics></math></span> years</span></p> </li> </ul> <hr data-start="306" data-end="309"> <h3 data-start="311" data-end="337">Step 2: Plug in values</h3> <span class="katex-display"><span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML" display="block"><semantics><mrow><mi>P</mi><mo>=</mo><mn>84,000</mn><mo>×</mo><mo stretchy="false">(</mo><mn>1.05</mn><msup><mo stretchy="false">)</mo><mn>2</mn></msup></mrow><annotation encoding="application/x-tex">P = 84{,}000 imes (1.05)^2</annotation></semantics></math></span><br></span></span><span class="katex-display"><span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML" display="block"><semantics><mrow><mo stretchy="false">(</mo><mn>1.05</mn><msup><mo stretchy="false">)</mo><mn>2</mn></msup><mo>=</mo><mn>1.1025</mn></mrow><annotation encoding="application/x-tex">(1.05)^2 = 1.1025</annotation></semantics></math></span><br></span></span><span class="katex-display"><span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML" display="block"><semantics><mrow><mi>P</mi><mo>=</mo><mn>84,000</mn><mo>×</mo><mn>1.1025</mn></mrow></semantics></math></span></span></span></p><p><span class="katex-display"><span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML" display="block"><semantics><mrow><mn><br></mn></mrow></semantics></math></span></span></span> <span class="katex-display"><span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML" display="block"><semantics><mrow><mn>84,000</mn><mo>×</mo><mn>1.1025</mn><mo>=</mo><mn>92,610</mn></mrow><annotation encoding="application/x-tex">84{,}000 imes 1.1025 = 92{,}610</annotation></semantics></math></span><br></span></span></p>
Correct Answered :
Wrong Answered :