SOLUTION: Leah opened a savings account and deposited $500 as principal. The account earns 7% interest, compounded annually. What is the balance after 9 years? Round to the nearest cent.

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Question 1063522: Leah opened a savings account and deposited $500 as principal. The account earns 7% interest, compounded annually. What is the balance after 9 years? Round to the nearest cent.
Answer by josgarithmetic(39616) About Me  (Show Source):
You can put this solution on YOUR website!
Amount of balance after x years:
500%2A%281.07%29%5Ex


500%281.07%29%5E9

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