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32 votes
32 votes
The amount of money, A, accrued at the end of n years when a certain amount, P.is

invested at a compound annual rate, r, is given by A = P(1+r)". If a person
invests $300 in an account that pays 8.5% interest compounded annually, find the
balance after 15 years.

User SikanderBabwani
by
3.0k points

1 Answer

9 votes
9 votes

Answer:

$1019.92

Explanation:

A = 300(1.085)^15

User Kolibril
by
3.0k points