Nmer050194
Nmer050194
04-04-2018
Mathematics
contestada
Help with this math question please
Respuesta :
Professor1994
Professor1994
04-04-2018
Amount of money invested: P=$900
Interest rate percentage in decimal form: r=5.5%=5.5/100→r=0.055
Time in years: t=6
Total amount in the acount at time t: A=?
A=Pe^(rt)
A=$900e^(0.055*6)
A=$900e^0.33
A=$900(1.390968128)
A=$1,251.871315
A=$1,251.87
Answer: Balance of the account after 6 years is $1,251.87
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