Asked by Alex

Find the final amount of money in an account if $2,600 is deposited at 5% interest compounded annually and the money is left for 9 years.

The final amount is $
Round answer to 2 decimal places
Answered by oobleck
recall your formula
A = P(1+r)^n
Now plug in your numbers
Answered by Alex
Would it be 23,508
Answered by oobleck
2600 * 1.05^9 = 4033.45

what formula did you use? Not the one I gave you ...
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