Ask Question
1 December, 13:02

supposed your friends parents invest $15,000 in an account paying 6% compounded annually. what will the balance be after 8 years

+3
Answers (2)
  1. 1 December, 14:48
    0
    1.06^8=1.59384807453

    15,000 * 1.59384807453 = 23907.721118

    23907.72 dollars (Rounded)
  2. 1 December, 16:25
    0
    Step-by-step explanation:

    Use the Compound Amout formula:

    A = P (1 + r) ^t

    Here, A = the balance after 8 years = $15,000 (1 + 0.06) ^8 = $23,907.72
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “supposed your friends parents invest $15,000 in an account paying 6% compounded annually. what will the balance be after 8 years ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers