If a $100 per month annuity was offering an annual 4.8% interest compounded monthly, how much money would be in the account after two years? Round your answer to the nearest cent, and do not include a dollar sign in your answer.​

109.6

Step-by-step explanation:

100+100×(4.8%×2)=100+ 100×9.6%=100+9.6=109.6

66.666666667%

step-by-step explanation:

divide 150 by 100

divide 100 by 1.5

there you go!

decreased by 33.333333334%

take the logarithm of both sides (the base of the log doesn't matter):

apply the exponent property - this says that :

distribute the log terms on both sides:

group like terms together:

divide through both sides by the coefficient on :

you can do some additional rewriting here using the properties of the logarithm to simplify things if you like: