Here's the balanced chemical equation:
2 AgNO₃(aq) + Na₂CrO₄(aq) → Ag₂CrO₄(s) + 2 NaNO₃(aq)
* Ag₂CrO₄ is a bright red solid that is insoluble in water, hence it precipitates out of the solution.
* NaNO₃ is soluble and remains in the solution.
This reaction is a classic example of a double displacement reaction where the cations and anions of the reactants switch partners to form new products.