Marleythemermaid Marleythemermaid
  • 12-09-2016
  • Mathematics
contestada

How much would $200 invested at 6% interest compounded annually be worth after 6 years? Round your answer to the nearest cent.

Respuesta :

apologiabiology
apologiabiology apologiabiology
  • 12-09-2016
[tex]A=P(1+ \frac{r}{n})^{nt} [/tex]
A=future amount
P=present amount
r=rate in decimal form
n=number of times per year to be compounded
t=time in years

so
P=200
r=0.06
n=1
t=6

evaluate to find A
[tex]A=200(1+ \frac{0.06}{1})^{(1)(6)} [/tex]
[tex]A=200P(1.06)^{6} [/tex]
A=283.704
round
A=$283.70
Answer Link

Otras preguntas

The factor that affects how easy and electron can be removed from an Atom is the
Paco says that the solution 2over5x - 1 = 9 is x= 4 Do you agree? Explain
Is the following statement true or false? You can use revision to evaluate whether your subjects have enough points for a strong compare and contrast
Which of the following value pairs can be used as m and n to factor the expression?
What specifications are typically provided by resistor manufacturers?
Byron’s income last year was $61,700. He made $48,000 at his plumbing job and had income from an apartment that he rented out. If Byron earned the same amount o
Pictures of characters in ibong adarna one by one plsss help me its my project
Determine whether the polynomial below can be factored into perfect squares. If so, factor the polynomial. Otherwise, select that it cannot be factored into a p
help I suck math :()
Write an essay on solar energy panels