Shayla deposited $6,000 into an account earning 5% interest per year, compounded every 6 months. She then added $1000 into the account at the end of each 6 month period over 12 years. How much money will be in the account at the end of the 12 years? Round to the penny $

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.7: Writing Exponential Functions
Problem 8CYU
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Shayla deposited $6,000 into an account earning 5% interest per year, compounded every 6 months.
She then added $1000 into the account at the end of each 6 month period over 12 years. How much
money will be in the account at the end of the 12 years?
Round to the penny $
Transcribed Image Text:Shayla deposited $6,000 into an account earning 5% interest per year, compounded every 6 months. She then added $1000 into the account at the end of each 6 month period over 12 years. How much money will be in the account at the end of the 12 years? Round to the penny $
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