Ask Question
9 June, 16:55

Find the balance in a $900 interest account after 10 years if the interest rate is 4.62%, compounded annually.

$1,413.81

$941.58

$415.80

$4,158.00

+5
Answers (1)
  1. 9 June, 17:24
    0
    The formula is

    A=p (1+r) ^t

    A future value?

    P present value 900

    R interest rate 0.0462

    T time 10 years

    A=900 * (1+0.0462) ^ (10)

    A=1,413.81
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Find the balance in a $900 interest account after 10 years if the interest rate is 4.62%, compounded annually. $1,413.81 $941.58 $415.80 ...” 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