SOLUTION: A FAMILY INVESTS $6000 IN AN ACCOUNT PAYING 9% COMPOUNDED MONTHLY.HOW MUCH IS IN THE ACCOUNT AFTER 6 MONTHS.SIMPLIFY YOUR ANSWER. ROUND TO THE NEAREST CENT IF NEEDED.
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Question 824078: A FAMILY INVESTS $6000 IN AN ACCOUNT PAYING 9% COMPOUNDED MONTHLY.HOW MUCH IS IN THE ACCOUNT AFTER 6 MONTHS.SIMPLIFY YOUR ANSWER. ROUND TO THE NEAREST CENT IF NEEDED. Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! A FAMILY INVESTS $6000 IN AN ACCOUNT PAYING 9% COMPOUNDED MONTHLY.HOW MUCH IS IN THE ACCOUNT AFTER 6 MONTHS.SIMPLIFY YOUR ANSWER. ROUND TO THE NEAREST CENT IF NEEDED.
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A(1/2) = 6000(1+(0.09/12))^(12*(1/2) = $6275.11
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Cheers,
Stan H.
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