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 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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