SOLUTION: Find the amount of money in an account after 8 years if $4800 is deposited at 6% annual interest

SOLUTION: Find the amount of money in an account after 8 years if $4800 is deposited at 6% annual interest

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Question 247929: Find the amount of money in an account after 8 years if $4800 is deposited at 6% annual interest

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Find the amount of money in an account after 8 years if $4800 is deposited at 6% annual interest
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A(t) = P + Prt
A(t) = P(1+rt)
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A(8) = 4800(1+0.06*8)
A(8) = 4800(1.48)
A(8) = $7104.00
======================
Cheers,
Stan H.
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