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OpenStudy (anonymous):
You invest an initial $1000 in an account that has an annual interest rate of 2.5%, compounded annually. How much money will you have tn the account after 6 years?Round answer to nearest whole number
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OpenStudy (anonymous):
use the formula A = P(1+r/100)^n A= amount after time n years P= amount invested (principal) r = rate of interest
OpenStudy (anonymous):
I dont think I got right answer? 25?
OpenStudy (anonymous):
$ 1159.693418212890625
OpenStudy (anonymous):
So rounded it would be $1160?
OpenStudy (anonymous):
yes it would be :)
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OpenStudy (anonymous):
Thanks for helping me.
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