Helpafellowstudent Helpafellowstudent
  • 12-07-2017
  • Mathematics
contestada

Find the balance in a $900 interest account after 10 years if the interest rate is 4.62%, compounded annually.

$1,413.81

$941.58

$415.80

$4,158.00

Respuesta :

Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 12-07-2017
The formula is
A=p (1+r)^t

A future value?
P present value 900
R interest rate 0.0462
T time 10 years

A=900×(1+0.0462)^(10)
A=1,413.81

Answer Link

Otras preguntas

What is the silk road? What valuable products were traded on the silk road?
What is the silk road? What valuable products were traded on the silk road?
What is the silk road? What valuable products were traded on the silk road?
What is the silk road? What valuable products were traded on the silk road?
What is the silk road? What valuable products were traded on the silk road?
What is the silk road? What valuable products were traded on the silk road?
What is the silk road? What valuable products were traded on the silk road?
What is the silk road? What valuable products were traded on the silk road?
What is the silk road? What valuable products were traded on the silk road?
What is the silk road? What valuable products were traded on the silk road?