ramosalina234
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NEED MAJOR HELP!!!!!!!!
Samantha desposited $650 into a savings account that pays 3.5% interest compound annually. After 6 years what will be the value of her investment in dollars?

Respuesta :

rudranimukerji
Hi,
Principal=$650, R=3.5%, T=6 yrs
Amount=Principal * (100+R%/100)^no. of yrs
Amount=650 * (100+3.5/100)^6
Amount= 650 *  103.5/100 *  103.5/100 *  103.5/100 *  103.5/100 *  103.5/100 *  103.5/100
Amount= 650 *  1.035 *  1.035 *  1.035 *  1.035 *  1.035 *  1.035
Amount=799.016
Hope this helps you.

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