2 years ago

Suppose that$ 7000 is placed in an account that pays 6% interest compounded each year.

1 answer:

5 0

Answer:

1) 7420

2) 7865.5

Step-by-step explanation:

The Formula for Compound Intertst is Amout(rate/100+1)^number of years

7000(.06+1)^1

7000(.06+1)^2

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