SOLUTION: Latifah opens a bank account with $800. The account accrues 6% interest compounded annually. How much money will she have in her account at the end of 2 years, rounded to the ne

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Latifah opens a bank account with $800. The account accrues 6% interest compounded annually. How much money will she have in her account at the end of 2 years, rounded to the ne      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


   



Question 896808: Latifah opens a bank account with $800. The account accrues 6% interest compounded annually.
How much money will she have in her account at the end of 2 years, rounded to the nearest cent?

Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
FV=800(1.06)^2
FV=898.88