Cassie puts 600.00 into an account to use for school expenses. The account earns 9% interest, compounded annually. How much will be in the account after 10 years?

Solución

Solución

Amount : 1420.42

Pasos de solución

Translate the problem into an equation:

A = 600 (1 + \frac{0.09}{1})^{1 \cdot 10}

600 (1 + \frac{0.09}{1})^{1 \cdot 10} = 1420.41820 \dots

Round to the nearest hundredth:

1420.42

Amount : 1420.42

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