SOLUTION: thank you in advance for help with this problem. I am not getting it right but would like to know where I am going wrong. Thanks $600 for 10 years at 8.5% compounded annually.

Question 177228This question is from textbook college algebras
: thank you in advance for help with this problem. I am not getting it right but would like to know where I am going wrong. Thanks $600 for 10 years at 8.5% compounded annually.
I set it up like this A=600(1+.085)^10
and I end up wiht 656 I know the answer is 1356$ annually. Thank for showing me where I am going wrong. This question is from textbook college algebras

Found 2 solutions by gonzo, Earlsdon:
Answer by gonzo(654) (Show Source): You can put this solution on YOUR website!
not sure how you got 656.
looks like you set it up right.
A = $600 * (1.085)^10
1.085^10 = 2.260983442 * 600 = 1356.590065

Answer by Earlsdon(6294) (Show Source): You can put this solution on YOUR website!
Well, I see nothing wrong with your set up.
and p = 600, i = 0.085, and n = 10 years.

So I would double check your order of operations.
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