slokamafru slokamafru

02-11-2016
Mathematics

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An investor puts $500 in an account that pays 3% interest compounded annually. Find the account balance after 6 years.

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Ilovebabes101 Ilovebabes101

02-11-2016

Use the formula A=Asub0(1+/-intrest)^time for compounded annually. In this case it would be A=500(1+.03)^6. Hope this helps!

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