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14.Find the values for the following: An initial 500 compounded for 2 years at 6% percent

Solución

14.Find the values for the following: An initial 500 compounded for 2 years at 6% percent

Solución

Amount : 561.8

Pasos de solución

Translate the problem into an equation:

A = 500 (1 + \frac{0.06}{1})^{1 \cdot 2}

500 (1 + \frac{0.06}{1})^{1 \cdot 2} = 561.8

Amount : 561.8

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