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Tema [17]
3 years ago
14

Jennifer invests $7,000 in an account for 12 years that pays compound interest

Mathematics
1 answer:
Goryan [66]3 years ago
6 0

Answer:

The rule is P(1+r%) power of time (T) so you're gonna apply the number to the rule

Step-by-step explanation:

P=7000

r=1.6%

T=12

7000 x (1+r%) power of T

(1+1.6%) power of 12 = 1.20983040

so when we calculate 7000 x (1+1.6%) power of 12

the answer will be = 8468.812846

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