toniaustin7 toniaustin7
  • 13-06-2017
  • Mathematics
contestada

The balance of an account earning compound interest is found using the formula A=p(1+r)t , where p is the principal (the amount invested), r is the interest rate, and t is the time in years. What is the account balance after 6 years, if $1,000 is invested at 8%? Round your answer to the nearest whole number.

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Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 15-06-2017
Hi there

A=1,000×(1+0.08)^(6)
A=1,586.87
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