Asked by Sydney
Jan received $2,200 from her aunt as a birthday gift. She decided to put the money in an account to save for college. The account has a fixed interest rate of 7.7%, compounded annually. How much money will be in the account after five years?
Answers
Answered by
GanonTEK
F = P(1 + r)^t
F = final amount
P = Principal amount
r = rate (in decimals)
t = time
F = final amount
P = Principal amount
r = rate (in decimals)
t = time