Ask Question
24 February, 19:46

1000 is deposited in a savings account that is compounded annually at 6%. The balance, A, in the account after t years is A = 1000 (1+0.06) t find the balance after 1 year, 10 years and 20 years

+1
Answers (1)
  1. 24 February, 23:17
    0
    1 Year:

    1000 (1+.06) 1 = 1060

    10 Years:

    1000 (1+.06) (10) = 10600

    20 Years:

    1000 (1+.06) (20) = 21200
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “1000 is deposited in a savings account that is compounded annually at 6%. The balance, A, in the account after t years is A = 1000 (1+0.06) ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers