use the compound interest formula to compute the balance in the following account after the stated period of time assuming interest is compounded annually. 6000 dollars invested at an APR of 2.5% for 12 years. what is the balance in the account after 12 years

Solución

Solución

Amount : 8069.33

Pasos de solución

Translate the problem into an equation:

A = 6000 (1 + \frac{0.025}{1})^{1 \cdot 12}

6000 (1 + \frac{0.025}{1})^{1 \cdot 12} = 8069.33294 \dots

Round to the nearest hundredth:

8069.33

Amount : 8069.33

Ejemplos populares

Makena drove a car at 500 miles with a speed of 20 mph. How long did Makena drove The sum of three consecutive odd integers is sixty-three.find three consecutive integers whose sum is 78 Irma opened a savings account and deposited 10,000.00 as principal. The account earns 5% interest, compounded annually. What is the balance after 9 years?You have 351. What is a 3 percent decrease