SOLUTION: A FAMILY INVESTS $6000 IN AN ACCOUNT PAYING 9% COMPOUNDED MONTHLY.HOW MUCH IS IN THE ACCOUNT AFTER 6 MONTHS.SIMPLIFY YOUR ANSWER. ROUND TO THE NEAREST CENT IF NEEDED.
Algebra.Com
Question 824078: A FAMILY INVESTS $6000 IN AN ACCOUNT PAYING 9% COMPOUNDED MONTHLY.HOW MUCH IS IN THE ACCOUNT AFTER 6 MONTHS.SIMPLIFY YOUR ANSWER. ROUND TO THE NEAREST CENT IF NEEDED.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A FAMILY INVESTS $6000 IN AN ACCOUNT PAYING 9% COMPOUNDED MONTHLY.HOW MUCH IS IN THE ACCOUNT AFTER 6 MONTHS.SIMPLIFY YOUR ANSWER. ROUND TO THE NEAREST CENT IF NEEDED.
----------------
A(1/2) = 6000(1+(0.09/12))^(12*(1/2) = $6275.11
======================
Cheers,
Stan H.
================
RELATED QUESTIONS
A family invests $6000 in an account paying 9% compounded monthly. how much is in the... (answered by stanbon)
A family invests $6000 in an account paying 9% compounded monthly. how much is in the... (answered by rfer)
A family invests $5000 in an account paying 6% compounded monthly. how much is in the... (answered by rfer)
brad invests 6600 in an account paying 6% compounded monthly how much is in the account... (answered by greenestamps)
Brad invests $3700 in an account paying 3% compounded monthly. How much is in the account (answered by Theo)
A FAMILY INVEST SIX THOUSAND DOLLARS IN AN ACCOUNT PAYING THREE PERCENT COMPOUNDED... (answered by mananth)
jasmine invests 7500 in an account paying 1.35 interest compounded monthly. How much is... (answered by stanbon)
A couple invests $3400 in an account paying 4% compounded quartely. How much is in the... (answered by ewatrrr)
How much should be deposited in an account paying 2.5% interest, compounded quarterly, in (answered by rfer)