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Marta_Voda [28]
1 year ago
14

Kellie has built her savings account to $7,800. She is transferring it to an account that earns 5.5% interest, compounded monthl

y. What will the balance of the account be in 16 years?
Mathematics
1 answer:
Pavel [41]1 year ago
7 0

Answer:

Kellie has built her savings account to $7,800. She is transferring it to an account that earns 5.5% interest, compounded monthly. What will the balance of the account be in 16 years?

Step-by-step explanation:

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1st to answer will get Brainliest 
storchak [24]
Find current interest:
=$2543.32 * 17.4%
=2543.32 * 0.174
=442.537

Add the interest to the current balance:
=2543.32 + 442.537
=2985.857

Add new transaction:
=2985.857 + 320
=3305.857 rounded to 3305.86

The answer is C) $3305.86

Hope this helps! :)
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3 years ago
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Answer:

4448.23

Step-by-step explanation:

AV=PV(1+\frac{i}{n})^{nt}\\\\6000=PV(1+\frac{.06}{12})^{5*12}\\\\6000=PV*1.3488\\\\PV= 4448.23

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