Adeposit of $500 is made in a savings account that pays 6% interest compounded annually. if no withdrawals

Adeposit of $500 is made in a savings account that pays 6% interest compounded annually. if no withdrawals or additional deposits are made, what will be the value of the account after 1 year? (hint: use i = prt.)

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This Post Has 3 Comments

  1. [tex]\dfrac{p}{4}[/tex]   or   [tex]\dfrac{1}{4}p[/tex]

    step-by-step explanation:

    if the four friends split the cost, p, of the pizza evenly, then each friend pays one-fourth of the cost of the pizza.

    the expression is [tex]\dfrac{p}{4}[/tex]   or   [tex]\dfrac{1}{4}p[/tex]

  2. 530

    500(1.06)^1 
    Multiply the original amount by 1.06 to the power of how many years it is. You get 1.06 by adding the percentage of the interest to 1 followed by a decimal.

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