bahamondekrist bahamondekrist

21-07-2016
Mathematics

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How much money will you have if you started with $ 50, and put it in an account that earned 9.7% every year for 15 years?

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Ckaranja Ckaranja

21-07-2016

Compound interest:
A=p(1+[tex] \frac{r}{100} [/tex][tex] )^{n} [/tex]
A=50(1+[tex] \frac{9.7}{100} [/tex][tex] )^{15} [/tex]
A=50(1.097[tex] )^{15} [/tex]
A=50*4.00958
A= $200.48

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