Using the equation B=p(1+r)^n [B, Balance; p, principal deposit; r, rate; n, number of interest periods].

Question

Find the balance when you have $17,500 in the bank at 4.25% compounded annually for 6 years.

I know the answer but not how to do it.

Answer 1

PUT THIS IN YOUR GOOGLE SEARCH WINDOW:

17500(1+.0425)^6

How you do it on your calcualator depends on your calculator.

Answer 2

Yes, I've done that obviously, but I need to show work.