The balance of an account earning compound interest is found using the formula , 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.

Question

anonymous · Answer

please help any 1

kropot72 · Answer

$$A=P(1+r)^{t}$$
where A is the amount after t years, P is the principal, r is the annual interest rate as a decimal and t is the time in years. Substituting the given values:
$$A=1000(1+0.08)^{0.08}=you\ can\ calculate$$

dean.shyy · Answer

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