You deposit $1500 into a savings account that pays 6% interest compounded yearly. How much money is in the account after 10 year

Question

NikAS [45]

2 years ago

10

You deposit $1500 into a savings account that pays 6% interest compounded yearly. How much money is in the account after 10 year

s assuming you made no additional deposits or withdrawals

Mathematics

2 answers:

OlgaM077 [116] · Answer 1 · 2022-08-25T00:46:49+03:00

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Phantasy [73] · Answer 2 · 2022-08-25T03:04:14+03:00

Phantasy [73]2 years ago

5 0

Answer:

$2,686.27

Step-by-step explanation:

1500(1+.06)^10

It is .06 because you have to convert it into a decimal.

Which gives you the answer of $2,686.27