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kirill115 [55]
3 years ago
7

Maria invests $6,154 in a savings

Mathematics
2 answers:
Anna [14]3 years ago
4 0

Answer:

$13286.02

Step-by-step explanation:

100 + 8 = 108

108 / 100 = 1.08

6154 x 1.08^{10} = $13286.02

Ivanshal [37]3 years ago
3 0

Answer:

  • $ 11077.20 or $ 13286.02

Step-by-step explanation:

Since it doesn't specify the interest type, we'll consider both simple and compound interests.

<u>Given:</u>

  • Principal P = $6154
  • Interest rate r = 8% or 0.08
  • Time t = 10 years

<u>Simple interest:</u>

  • A = P(1+rt) = 6154( 1 +0.08*10) = 11077.20

<u>Compound interest (compounded annually):</u>

  • A=P(1+r)^t=6154(1+0.08)^{10} = 13286.02
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