SOLUTION: Mrs. Jackson deposits $15,000 in an account that earns compound interest. The annual interest rate is 6%, and the interest is compounded six times a year. To the nearest cent, wha

Question 1142146: Mrs. Jackson deposits $15,000 in an account that earns compound interest. The annual interest rate is 6%, and the interest is compounded six times a year. To the nearest cent, what will the account balance be after 10 years if Mrs. Jackson makes no further deposits or withdrawals?

Answer by ikleyn(52798) (Show Source): You can put this solution on YOUR website!
.

". . . six time a year." I read as ". . . every two months."

Future value =  = 27250.45 dollars.

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