SOLUTION: You have deposited 13,500 dollars in a bank account which yields interest at 5% per year. What is the balance in the account after 8 years?

SOLUTION: You have deposited 13,500 dollars in a bank account which yields interest at 5% per year. What is the balance in the account after 8 years?

Algebra.Com

Question 213926:
You have deposited 13,500 dollars in a bank account which yields interest at 5% per year. What is the balance in the account after 8 years?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=P(1+r)^t
A=13500(1.05)^8
A=13500(1.477)
A=$19,939.50
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