7. Use the compound-interest formula to find the account balance A with the given conditions, where P=principal, r=interest
rate, n=number of compounding periods per year, t=time, in years, and A=account balance.
1 answer:
Answer:
<u>$173,954.01</u>
Step-by-step explanation:
Finding compound interest :
- A = (150,000)(1 + 0.025)⁶
- A = (150,000)(1.025)⁶
- A = (150,000)(1.15969342)
- A = <u>$173,954.01</u>
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