Ask Question

Tony opened a savings account with an initial deposit of $1,000. If no more money is deposited or withdrawn, and the account earns 7.5% interest compounded yearly, how much money will be in the account after 6 years?

+5
Answers (2)
  1. 3 June, 03:26
    0
    The correct answer is

    $ 1543.30
  2. 3 June, 03:34
    0
    1000 (1 + 0.075) ^6 = $1543.30
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Tony opened a savings account with an initial deposit of $1,000. If no more money is deposited or withdrawn, and the account earns 7.5% ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers