Becky invested $32,000 at 6% interest compounded annually. What will be her total balance at the end of 2 years?

Question

anonymous · Answer

f(x) = 32000(1.06)^2
I believe plug 2 in for x!

anonymous · Answer

1.1236?

anonymous · Answer

My bad i think its f(x) = 32000(1.06)2
32000 x 2.12 = 67840

anonymous · Answer

No, your answer is incorrect. I just checked that, sorry D:
Look how I did..

A = P ( 1 + r ) ^ t
   = 32,000 * ( 1 + 0.06 ) ^ 2
   = 32,000 * ( 1.06 ) ^ 2
   = 32,000 * 1.1236
   = 35955.2

My final answer is 35955.2 but that's incorrect too. ;-;

anonymous · Answer

I see...so its not an exponent nor a whole number?

anonymous · Answer

I don't know that yet

anonymous · Answer

@robtobey @radar @ParthKohli @phi where did we go wrong?

anonymous · Answer

@Jadeishere

jadeishere · Answer

$32,000 at 6% interest equals to $1920. In two years Becky will have $35840.

anonymous · Answer

http://prntscr.com/3pwliw nvrm. I got the answer anyway :P My answer was correct. I only had to add a 0 at the end. Like this: 35955.20 Thanks for helping though ;)

jadeishere · Answer

>.<