Question

You deposit $1500 into a savings account that pays 6% interest compounded yearly. How much money is in the account after 10 years assuming you made no additional deposits or withdrawals

Answer 1

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Answer 2

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