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garik1379 [7]
1 year ago
14

find the compound amount by multiplying the original deposit by 100% plus the compound rate given in the following $1,190 at 9%

for 6 years
Mathematics
1 answer:
Mashutka [201]1 year ago
4 0

the formula is

M=C(1+i)^n

where m is the total

C the initial capital

i the compound rate

and n the period of time

so replacing

M=1,190(1+0.09)^6

and solve

\begin{gathered} M=1,190(1.09)^6 \\ M=1,190(1.677) \\ M=1,995.75 \end{gathered}

the total is $1,995.75

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