tleng8510 tleng8510

13-07-2017
Mathematics

contestada

You deposit $2000 each year into an account earning 6% interest compounded annually. How much will you have in the account in 35 years?

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Aliwohaish12 Aliwohaish12

16-07-2017

The formula is
A=p (1+r)^t
A future value?
P present value 2000
R interest rate 0.06
T time 35 years
A=2,000×(1+0.06)^(35)
A=15,372.17

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