mariesavannah483 mariesavannah483
  • 03-07-2020
  • Mathematics
contestada

1. Yousaf deposits $5000 in a savings account at his local bank. The account pays 5.5 % interest compounded annually. At the end of 6 years, how much will he have in his account?

Respuesta :

soNAa03
soNAa03 soNAa03
  • 03-07-2020

Answer:

I think its $6894.21

Step-by-step explanation:

compound interest formula: A= P(1+ r/n)^nt

A= 5000(1+ 0.055/1)^1(6)

A= 6894.21403

A= $6894.21

Answer Link

Otras preguntas

One quarter is 191/200 inch in diameter. Eight quarters are placed side by side how many inches long is the line of quarters
Jews were severely persecuted following the fall of this nation to the German army.
round 8.293 to the place named hundredths
How do the symptoms of depression compare to those of attempted suicide?
Round 845,001 to the nearest ten thousand
Did Columbus reflect the values of the late 15th century Europe?
what would you describe the number sentence 6 + 0 equals 6
how do communist and socialist political theories differ from each other? a: they are totally different because socialism supports a market economy and communi
Which groups did not share in the prosperity of the late 1800s? Choose all answers that are correct. a. slum dwellers b. factory owners c. immigrants d. the
how to simplify 81 1/2