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19 November, 18:30

Suppose that $ 8500 is places in an account that pays 9% interest compounded each year. Assume that no withdrawals are made from the account. find the amount in the account at end of 1 year?

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  1. 19 November, 19:49
    0
    The Answer is $9265

    8500 x 0.09 = 765

    765+8500=9265
  2. 19 November, 20:54
    0
    A=p (1+r) ^t

    A=8,500 * (1+0.09)

    A=9,265
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