Ask Question
3 December, 20:04

You invest an initial $1,000 in an account that has an annual interest rate of 2.5%, compounded annually. How much money will you have in the account after 6 years? Round your answer to the nearest whole number.

+2
Answers (2)
  1. 3 December, 20:20
    0
    The change is a growth of 2.5% so the factor will be:

    1 + 0.025 = 1.025

    N = 1000 (1.025) ⁶

    = $1,160
  2. 3 December, 20:21
    0
    1000 (1+2.5%) ^6=?
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “You invest an initial $1,000 in an account that has an annual interest rate of 2.5%, compounded annually. How much money will you have in ...” 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