A principal of 3600 is invested at 9% interest, compounded annually. How much will the investment be worth after 6 years?Use the calculator provided and round your answer to the nearest dollar.

Solution

Solution

Amount : 6037.56

étapes des solutions

Translate the problem into an equation:

A = 3600 (1 + \frac{0.09}{1})^{1 \cdot 6}

3600 (1 + \frac{0.09}{1})^{1 \cdot 6} = 6037.56039 \dots

Arrondir à hundredth la plus proche:

6037.56

Amount : 6037.56

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