Asked by Ann
If $7,800 is deposited into an account paying 6% interest compounded annually at the end of each year, how much money is in the account after 2 years?
Answers
Answered by
drwls
Multiply $7800 by 1.06, TWICE (once for each year). That will give you the answer.
Doing the calculation yourself will be a good exercise.
Doing the calculation yourself will be a good exercise.
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