Angel deposited $6,000 in an account that pays 6% interest compounded annually. Which expression can be used to determine the value of his investment after 5 years? A 6000(1.06)5 B 6000(0.06)5 C 6000 + 6000(0.06)(5) D 6000(1.06)(5)

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
ChapterP: Prologue: Calculator Arithmetic
Section: Chapter Questions
Problem 7E: A Bad Investment You have just received word that your original investment of 720 has decreased in...
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Angel deposited $6,000 in an
account that pays 6% interest
compounded annually. Which expression
can be used to determine the value of
his investment after 5 years?
A 6000(1.06)5
B 6000(0.06)5
C 6000 + 6000(0.06)(5)
D 6000(1.06)(5)
Transcribed Image Text:Angel deposited $6,000 in an account that pays 6% interest compounded annually. Which expression can be used to determine the value of his investment after 5 years? A 6000(1.06)5 B 6000(0.06)5 C 6000 + 6000(0.06)(5) D 6000(1.06)(5)
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