SOLUTION: jasmine invests 7500 in an account paying 1.35 interest compounded monthly. How much is in the account after 6 years? show work
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You can put this solution on YOUR website! jasmine invests 7500 in an account paying 1.35 interest compounded monthly. How much is in the account after 6 years? show work
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A(t) = P(1+(r/n))^(nt)
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A(6) = 7500(1+(0.0135/12))^(12*6)
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A(6) = 7500(1.00113)^72 = 7500*1.08432 = $8132.41
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Cheers,
Stan H.
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