Find the balance in the account after the given period. $6000 principal earning 5% compounded annually. 5 years​

Question

Find the balance in the account after the given period.
$6000 principal earning 5% compounded annually. 5 years​

in progress 0
Audrey 1 week 2021-09-12T13:08:38+00:00 1 Answer 0

Answers ( )

    0
    2021-09-12T13:10:36+00:00

    Answer:

    Step-by-step explanation:

    P = $6000

    r =5%

    t = 5 years

    Amount=P*(1+\frac{r}{100})^{t}\\\\=6000*(1+\frac{5}{100})^{5}\\\\=6000*(\frac{105}{100})^{5}\\\\=6000*(1.05)^{5}\\\\= 6000*1.28

    = $7657.69

Leave an answer

45:7+7-4:2-5:5*4+35:2 =? ( )