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Taiya invests $4,848 in a savings account with an interest rate of 5% compounded annually. What will Taiya's account balance be after 6 years?

Taiya invests $4,848 in a savings account with an interest rate of 5% compounded annually. What will Taiya's account balance be after 6 years?
asked 181k views
7 votes
Taiya invests $4,848 in a savings account with an interest rate of 5% compounded annually. What will Taiya's account balance be after 6 years?

asked
User Pocoa
by
7.4k points

1 Answer

9 votes

Answer:

$6496.78

Explanation:


A=P(1+r)^(t) \\A=4848(1+0.05)^(6)\\ A= $6496.78

answered
User Norbert Dopjera
by
7.6k points
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