Suppose that $6500 is placed in an account that pays 17% interest compounded each year. Assume that no withdrawals are made from
the account.
1 answer:
Answer: $7,605
Step-by-step explanation:
At the end of 1 years, the amount in the account will be:
= Principal * (1 + rate)^ no. of periods
= 6,500 * (1 + 17%)
= $7,605
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