SOLUTION: Suppose your friends parents invest $15,000 in an account paying 6% compounded annually. what will the balance be after eight years?

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Question 1111686: Suppose your friends parents invest $15,000 in an account paying 6% compounded annually. what will the balance be after eight years?
Answer by ikleyn(52777) About Me  (Show Source):
You can put this solution on YOUR website!
.
The balance will be


Balance = 15000%2A%281%2B0.06%2F12%29%5E8 = 15000%2A%281%2B0.005%29%5E8 = 15000%2A1.005%5E8.


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