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2 years ago

13

You invest an initial $1,000 in an account that has an annual interest rate of 2.5%, compounded annually. How much money will yo

u have in the account after 6 years? Round your answer to the nearest whole number.

2 answers:

Lyrx [107]2 years ago

7 0

The change is a growth of 2.5% so the factor will be:
1 + 0.025 = 1.025
N = 1000(1.025)⁶
= $1,160

snow_lady [41]2 years ago

5 0

1000(1+2.5%)^6=???????????

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