Tony opened a savings account with an initial deposit of $1,000. If no more money is deposited or withdrawn, and the account ear

Question

3 years ago

12

ns 7.5% interest compounded yearly, how much money will be in the account after 6 years?

2 answers:

liraira [26] · Answer 1 · 2022-05-02T13:56:17+03:00

7 0

1000 ( 1 + 0.075)^6 = $1543.30

ki77a [65] · Answer 2 · 2022-05-02T15:25:32+03:00

ki77a [65]3 years ago

5 0

Hello

The rate of change would be 2,500 dollars per year.

The initial value would be 5,000 dollars. And I believe Y= 7,500.