If I move up 8 and then move down 8 where am I located?
2 answers:
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Answer: $6,120.86
Step-by-step explanation:
Formula to calculate the accumulated amount in n years (compounded daily) is given by :-
P= Initial amount
r= Rate of interest ( in decimal)
As per given , we ahve
P= $5300
r= 2.4%=0.024
n= 6 years
Put these values in formula , we get
Hence, there would be $6,120.86 in the account after 6 years.