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3 years ago

11

Using the formula in model 1, choose the correct answers for the new balance and amount of interest earned in the following comp

ound interest problem. $1,050 at 6%, for 25 years, compounded annually.
Total Amount = $
Interest Amount =$

2 answers:

mihalych1998 [28]3 years ago

8 0

A= 1,050×(1+0.06)^(25)
A=4,506.46
Interest earned=4506.46-1050= =3,456.46

bulgar [2K]3 years ago

3 0

Total Amount - 4,506.46
Interest Amount- 3,456.46

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