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Mary deposits $7,500 into a bank. She can’t withdraw or deposit any more money for 6 years. She earn 6% interests during that time.

Mary deposits $7,500 into a bank. She can’t withdraw or deposit any more money for 6 years. She earn 6% interests during that time.
asked 144k views
3 votes
Mary deposits $7,500 into a bank. She can’t withdraw or deposit any more money for 6 years. She earn 6% interests during that time.

asked
User Fan Ouyang
by
7.8k points

1 Answer

2 votes
formula = P(1+r)^t

7500 * (1.0.06)^6

7500 *(1.06)^6

$10,638.89 after 6 years
answered
User Christian Hirsch
by
7.9k points
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