lupitaperez2345 lupitaperez2345
  • 12-08-2020
  • Mathematics
contestada

A principal of $2600is invested at 6.75% interest, compounded annually. How much will the investment be worth after 14 years

Respuesta :

machmillerg
machmillerg machmillerg
  • 12-08-2020

Answer:

$6488.19

Step-by-step explanation:

To solve this problem we use the compounded interest formula:

[tex]amount = principal(1 + (r \n))^({n}{t})[/tex]

a = $2600(1+(0.0675/1))¹*¹⁴

a = $6488.19

Answer Link

Otras preguntas

get to me asap (thx to jiaqian for helping me w/ 2 questions)
The Substitution Property of Equality allows you to say that if 7j + 14k = 28, and j = 2, then _____. k = 2 7(j + 2k) = 28 28 = 14k + 7j 7 ● 2 + 14k = 28
What is global warming? What can people do to reduce global warming?
Compute how many 7-digit numbers can be made from the digits 1,2,3,4,5,6,7 if there is no repetition and the odd digits must appear in an unbroken sequence
You have before you two glasses of amontillado wine - one made this year and one made many years ago. you have claimed to be an expert wine connoisseur (now tha
a client with hypertension is prescribed verapamil. what are the three (3) expected outcomes of this medication therapy
Are the two lines parallel? Please show your work and explain how you know whether or not they are parallel: x + y = 1 and 3x + 3y = 9
Why did george Washington oppose political parties
5(-3x - 2) - (x - 3) = -4(4x + 5) + 13 HELP MEE
What is the distance between the points-6,7 and -1,1 round to nearest whole unit