You invest $6000 in a savings account drawing 5.25% interest annually. How much will be in the account in 15 years? ( round to the nearest cent (2 decimal places) )

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asked Feb 26, 2023 218k views

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You invest $6000 in a savings account drawing 5.25% interest annually. How much will be in the account in 15 years? ( round to the nearest cent (2 decimal places) )

Mathematics
college

Evil Engel asked

by Evil Engel

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4 votes

Answer:

$ 12 926.56

Explanation:

If compounded annually:

FV = 6000 ( 1 + .0525)^15 =

LocEngineer answered Mar 2, 2023

by LocEngineer

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