kimberlyyvillalobos kimberlyyvillalobos
  • 12-05-2022
  • Mathematics
contestada

You are investing $1500 at 5.2% compounded annually. How much money will you have in 12 years?

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Аноним Аноним
  • 12-05-2022

Answer:

$2756.01  to the nearest cent.

Step-by-step explanation:

A = P(1 + r)^t     where A is the amount after t years, P = amount invested, r = rate as a decimal fraction.

So here, we have:

A = 1500(1 + 0.052)^12

= 1500 * 1.837337

= $2756.01

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