Question

PLEASE HELP FAST

What is the final balance for an account starting with $6000 at 1.5% interest compounded annually for 5 years?

A = P(1 + r)t

A.
$6450.00

B.
$6463.70

C.
$12,068.14

D.
$30,450.00

Answer 1

C, I was in class this morning and we say the formula for this is $6000 x 1.15 to the power of 5. That is $12068.14

Hope I could help :)