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AnnZ [28]
4 years ago
15

MTH 154 - DOBM

Mathematics
1 answer:
Tresset [83]4 years ago
8 0

Answer:

  $18,862.91

Step-by-step explanation:

The appropriate formula is ...

 A = P(1 +r/n)^(nt)

where P is the amount invested (14,000), r is the APR (.05), n is the number of times per year interest is compounded (4), and t is the number of years (6).

Filling in the numbers and doing the arithmetic, we get ...

  A = 14,000(1 +.05/4)^(4·6) = 14,000·1.0125^24 ≈ 18,862.91

The balance after 6 years will be $18,862.91.

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How do I do it and show my work along with it?
Rudiy27
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I don't know sorry....

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