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PLEASE HELP FAST What is the final balance for an account starting with $6000 at 1.5% interest compounded annually for 5 years? A = P(1 + r)t A. $6450.00 B. $6463.70 C. $12,068.14 D. $30,450.00
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4 votes
PLEASE HELP FAST

What is the final balance for an account starting with $6000 at 1.5% interest compounded annually for 5 years?

A = P(1 + r)t

A.
$6450.00

B.
$6463.70

C.
$12,068.14

D.
$30,450.00

User Boecko
by
8.0k points

1 Answer

4 votes
C, I was in class this morning and we say the formula for this is $6000 x 1.15 to the power of 5. That is $12068.14

Hope I could help :)

User Rezler
by
8.1k points
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