Asked by Flopppp
Sam has a savings account that will earn him interest at a rate of 1.5% annually. He has $40,000 in the account currently. How much will his account be worth in 6 years?
Answers
Answered by
Anonymous
if simple interest then
40,000 ( 1+ 6 * 0.015)
if compounded yearly then
40,000 * (1.015)^6
40,000 ( 1+ 6 * 0.015)
if compounded yearly then
40,000 * (1.015)^6
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