3 years ago

How much money will you have if you started with $ 50, and put it in an account that earned 9.7% every year for 15 years?

1 answer:

3 0

Compound interest:
A=p(1+ $\frac{r}{100}$ $)^{n}$
A=50(1+ $\frac{9.7}{100}$ $)^{15}$
A=50(1.097 $)^{15}$
A=50*4.00958
A= $200.48

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