SOLUTION: How much would you have in 10 years if you purchased a $2,000.00 6-year savings certificate that paid 6% compounded annually?
Algebra.Com
Question 347167: How much would you have in 10 years if you purchased a $2,000.00 6-year savings certificate that paid 6% compounded annually?
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
^n)
where 
is the interest rate per compounding period and 
is the number of compounding periods.
For your situation:
^6)
is the amount you have at the time the certificate matures at the end of 6 years. What happens between then and the end of 10 years is difficult to say. By the way, you get to do your own arithmetic.
John
My calculator said it, I believe it, that settles it
RELATED QUESTIONS
1. How much will you have in 10 years if you invest $20,000 at 6% compounded
annually?
(answered by ikleyn,Boreal)
If you put $4,000 in a savings account that pays interest at the rate of 6 percent,... (answered by ikleyn)
if you put 1500$ in a savings account that paid 4.5% compounded yearly, how much interest (answered by stanbon)
Darla purchased a new car during a special sales promotion by the manufacturer. She... (answered by Theo)
Jim opens a savings account with a deposit of $10,000. If the account has an annual... (answered by mananth,ikleyn)
How much money should you deposit into a certificate of deposit that pays 4 % a year... (answered by math_helper)
You wish to purchased a house for $200,000 in 12 years. You can invest your money at 5%/a (answered by Theo)
You wish to purchased a house for $200,000 in 12 years. You can invest your money at 5%/a (answered by ikleyn)
You wish to purchased a house for $200,000 in 12 years. You can invest your money at 5%/a (answered by ikleyn)
