Avery puts 2,000.00 into an account to use for school expenses. The account earns 15% interest, compounded annually. How much will be in the account after 7 years?

Lời Giải

Avery puts 2, 000.00 into an account to use for school expenses. The account earns 15% interest, compounded annually. How much will be in the account after 7 years?

Lời Giải

Amount : 5320.04

Các bước giải pháp

Translate the problem into an equation:

A = 2000 (1 + \frac{0.15}{1})^{1 \cdot 7}

2000 (1 + \frac{0.15}{1})^{1 \cdot 7} = 5320.03976 \dots

Làm tròn đến hundredth gần nhất:

5320.04

Amount : 5320.04

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