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Samantha deposits $15,456 in a savings account and leaves it there for 15 years at 4.3% compounded monthly

Samantha deposits $15,456 in a savings account and leaves it there for 15 years at 4.3% compounded monthly
asked 81.1k views
5 votes
Samantha deposits $15,456 in a savings account and leaves it there for 15 years at 4.3% compounded monthly

asked
User Vova Bilyachat
by
7.7k points

1 Answer

3 votes

Answer:

$29425

Explanation:


\displaystyle A=P\left(1+(r)/(n)\right)^(nt)\\\\A=15456\left(1+(0.043)/(12)\right)^(12(15))\\\\A\approx\$29425

answered
User Honza Osobne
by
8.0k points
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