Suppose you deposit \$1500 in a savings account that pays interest at a annual rate of 6%. No money is added or withdrawn from the account. How much will be in the account after 5 years

Solución

Suppose you deposit $1500 in a savings account that pays interest at a annual rate of 6%. No money is added or withdrawn from the account. How much will be in the account after 5 years

Solución

Amount : 1950

Pasos de solución

Translate the problem into an equation:

A = 1500 (1 + 0.06 \cdot 5)

1500 (1 + 0.06 \cdot 5) = 1950

Amount : 1950

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