Question
Asked Feb 4, 2020
4 views

Find the final amount of money in an account if $6,600 is deposited at 6% interest compounded annually and the money is left for 8 years.

check_circle

Expert Answer

Step 1

Given:

Principal (P)= $6600

Rate (%) = 6 % compounded annually

Time (t)= 8 years

Step 2

Calculation:

Final amount (A) is given by

Algebra homework question answer, step 2, image 1
fullscreen
Step 3

Further calcul...

Algebra homework question answer, step 3, image 1
fullscreen

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in

Math

Algebra