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samantha9430
20.12.2019 •
Mathematics
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what is the final amount in a $1500 account earning .75% compound interest for 6 years?
answers will include a $ sign and round all answers to hundredths place.
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Ответ:
The final amount in the account after 6 years at compound interest is $1568.78 .
Step-by-step explanation:
Given as :
The principal amount in account = p = $1500
The rate of compound interest = r = 0.75 %
The time period of the loan = t = 6 years
Let The Amount in account after 6 years = $A
From Compound Interest method
Amount = Principal ×![(1+\dfrac{\textrm rate}{100})^{\textrm time}](/tpl/images/0426/8494/b9fe9.png)
I.e A = p ×![(1+\dfrac{\textrm r}{100})^{\textrm t}](/tpl/images/0426/8494/8ccf6.png)
Or, A = $1500 ×![(1+\dfrac{\textrm 0.75}{100})^{\textrm 6}](/tpl/images/0426/8494/d24e9.png)
Or, A = $1500 ×![(1.0075)^{6}](/tpl/images/0426/8494/94094.png)
Or, A = $1500 × 1.04585
Or, A = $1568.775
So, The final amount= A = $1568.78
Hence The final amount in the account after 6 years at compound interest is $1568.78 . Answer
Ответ:
Answer is in the photo. I can't attach it here, but I've uploaded it to a file hosting. link below! Good Luck!
cutt.ly/Kzv78uJ