Register
7. Use the​ compound-interest formula to find the account balance A with the given​ conditions, where P=​principal, r=interest ​rate, n=number of compounding periods per​ year, t=​time, in​ years, and
71.6k views
10 votes
7. Use the​ compound-interest formula to find the account balance A with the given​ conditions, where P=​principal, r=interest ​rate, n=number of compounding periods per​ year, t=​time, in​ years, and A=account balance.

7. Use the​ compound-interest formula to find the account balance A with the given-example-1
User Greg Case
by
4.4k points

1 Answer

9 votes

Answer:

$173,954.01

Explanation:

Finding compound interest :

  • A = (150,000)(1 + 0.025)⁶
  • A = (150,000)(1.025)⁶
  • A = (150,000)(1.15969342)
  • A = $173,954.01
User Kalim Sayyad
by
3.9k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

4.5m questions

5.9m answers

Other Questions

Which of the following angles can be used to evaluate cot(-210)
Which of the following is a polynomial with roots 4, -5, and 7? A. f(x) = x^3 - 6x - 27x + 140 B. f(x) = x^3 - 6x - 20x + 27 C. f(x) = x^3 - 20x^2 - 27x + 35 D. f(x) = x^3 - 20x^2 - 35x + 140
ten granola bars and 12 bottles of water cost $23. 5 granola bars and four bottles of water cost $10. how much do one granola bar in one bottle of water cost?
If the equation y=mx+b is used to model a quantity y as a function of the quantity x, why is b considered to be the starting value?
PLEASE HELP !!!!!!!! THANK YOU line m includes the points (-5,3) and (-2,-6). Line n has the same slope as line m and a y-intercept of -2/3. Write the equation for line n in slope-intercept form.
Link Copied!