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Helga [31]
3 years ago
6

if a savings account is opened with an initial deposit of $250, and interest is compounded monthly at 6.25% for 50 years, how mu

ch will the account be worth at the end of the 50-year period?
Mathematics
1 answer:
LekaFEV [45]3 years ago
5 0

Answer:

$-9125

Step-by-step explanation:

6.25÷100 = 0.0625                                    50×12=<u>600</u>

0.0625×250= <u>$15.625</u>

<u>6.25%</u>=$15.625

15.625×600= $9375

$250-$9375=  <u>-9125</u>

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