Melinda invested $1000 in a retirement account. The formula below shows the amount of money, A, that will be in her account at the end of t years. A = 1000(1 + r)' In the formula, r is the interest rate, expressed as a decimal. Melinda's account has an interest rate of 6%. Which of the following is closest to the amount that will be in Melinda's account at the end of 2 years? O $1120 O $1360 O $1124 O $1256
Melinda invested $1000 in a retirement account. The formula below shows the amount of money, A, that will be in her account at the end of t years. A = 1000(1 + r)' In the formula, r is the interest rate, expressed as a decimal. Melinda's account has an interest rate of 6%. Which of the following is closest to the amount that will be in Melinda's account at the end of 2 years? O $1120 O $1360 O $1124 O $1256
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
ChapterP: Prerequisites
SectionP.CR: Chapter Review
Problem 132E
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Which of the following is closest to the amount that will be in Melinda’s account at the end of 2 years ?
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