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nasty-shy [4]
3 years ago
5

anisha invested $8,000 in an account that earns 10% interest. How much money will she have in 15 years if the interest is compou

nded quarterly?
Mathematics
1 answer:
Anettt [7]3 years ago
8 0
After 15 years she will have about $36,759.78 in her savings account.
Hope this helps!
I would appreciate it if I got brainliest! Thanks! =D
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Answer:

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<em />

Step-by-step explanation:

To estimate growth, we use the formula shown below:

F=P(1+r)^t

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r is the rate of growth (0.9% means 0.009)

t is the time in years (from Jan 2016 to Jan 2024 is 8 years, t = 8)

<em>Let's put these into the formula and figure out F:</em>

<em>F=P(1+r)^t\\F=1,988,817(1+0.009)^8\\F=2,136,604.5</em>

<em />

<em>Rounding we get the population in Jan 2024 to be </em><em>2,136,605</em>

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