Question

How much would $140 invested at 6% interest compounded annually be worth after 15 years? Round your answer to the nearest cent. Do not include units in your answer.

Answer 1

Use The Formula :
\[\Large \color{BLue}{\bf{A=p(1+\frac{r}{n})^{nt}}}\] .
Where :
==> A = the final amount .
==> P = Starting amount .
==> r = rate as a decimal .
==> n = number of compounding periods per year .
==> t = number of years .
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Tip:
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\[\Huge \color{MidnightBlue}{Make~sure~you~follow~the}\]
\[\Huge \color{MidnightBlue}{order~of~operations ~.}\]

Answer 2

thanks!!

Answer 3

yw.