BablaKanchan BablaKanchan

17-05-2022
Mathematics

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7. Use the compound-interest formula to find the account balance A with the given conditions, where P=principal, r=interest rate, n=number of compounding periods per year, t=time, in years, and A=account balance.

7 Use the compoundinterest formula to find the account balance A with the given conditions where Pprincipal rinterest rate nnumber of compounding periods per ye class=

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Аноним Аноним

17-05-2022

Answer:

$173,954.01

Step-by-step explanation:

Finding compound interest :

A = (150,000)(1 + 0.025)⁶
A = (150,000)(1.025)⁶
A = (150,000)(1.15969342)
A = $173,954.01

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