What is the final balance for an account starting with $6000 at 1.5% interest compounded annually for 5 years?

A = P(1 + r)t

A.

$6450.00

B.

$6463.70

C.

$12,068.14

D.

$30,450.00

Question

What is the final balance for an account starting with $6000 at 1.5% interest compounded annually for 5 years? 

A = P(1 + r)t
 











  

A.
 
$6450.00 









  

B.
 
$6463.70 









  

C.
 
$12,068.14 









  

D.
 
$30,450.00

jigglypuff314 · Answer

hello :)
try plugging in
P = 6000
r = 0.015
and t = 5

anonymous · Answer

i did i dnt understand

jigglypuff314 · Answer

6000(1+0.015)^5 = ?

did you try that?

anonymous · Answer

would it be d

anonymous · Answer

City Bank offers 4% simple interest on deposits. County Bank offers 3% interest compounded annually. 

Derek deposits $5000 in City Bank and Lupe deposits $5000 in County Bank. 

What is the difference in final balances for Derek and Lupe at the end of 6 years?
 











  

A.
 
$229.74 









  

B.
 
$300.00 









  

C.
 
$356.33 









  

D.
 
$426.60

jigglypuff314 · Answer

mmm not quite :/
what did you plug into your calculator?

and could you please try putting new questions in a separate question post?

anonymous · Answer

yeah sorry

jigglypuff314 · Answer

btw http://www.wolframalpha.com/input/?i=6000%281%2B0.015%29%5E5