If 1200 is invested in an account that earns 9.01% compounded annually for 6 years, find the interest earned during each year and the amount in the account at the end of each year.

Solución

Solución

Interest : 813.63

Pasos de solución

Translate the problem into an equation:

2013.62819 \dots = 1200 + I

Resolver para

I, 2013.62819 \dots = 1200 + I : I = 813.63

Interest : 813.63

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If ​1200 is invested in an account that earns 9.01​% compounded annually for 6 years​, find the interest earned during each year and the amount in the account at the end of each year.

Solución

Solución

Ejemplos populares

If 1200 is invested in an account that earns 9.01% compounded annually for 6 years, find the interest earned during each year and the amount in the account at the end of each year.