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sergiy2304 [10]
4 years ago
13

If $10,000 is invested at 6% annual interest compounded yearly, what is the account balance after 4 years, assuming no additiona

l deposits or withdrawals are made?
Mathematics
1 answer:
Aleks04 [339]4 years ago
3 0

Answer:

a = $12,600

Step-by-step explanation:

Formula for Compound interest :

a  =  p{(1 +  \frac{r}{100} )}^{n}

a = Amount

p = Initial Principal

r = Interest rate per annum

n = number of years

a \: = 10000(1 + 0.06)^{4}

a = 10,000 * (1.26)

a = $12,600

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