SOLUTION: Suppose you deposit $1500 in a savings account that pays interest at aninterest rate of 6%. No money is added or withdrawn from the account a. How much will be in the account aft

SOLUTION: Suppose you deposit $1500 in a savings account that pays interest at aninterest rate of 6%. No money is added or withdrawn from the account a. How much will be in the account aft

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Question 750422: Suppose you deposit $1500 in a savings account that pays interest at aninterest rate of 6%. No money is added or withdrawn from the account a. How much will be in the account after 5 years if it is compounded annually?
Answer by checkley79(3341) (Show Source): You can put this solution on YOUR website!
1500(1+.06)^5
1500(1.06)^5
1500*1.338=$2,007.34 ANS.
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