Post a New Question

ALGEBRA

posted by .

If $695 is invested in an account that earns 21.75%, compounded annually, what will the account balance be after 15 years? (Round your answer to the nearest cent.)

  • ALGEBRA -

    r = 21.75%=0.2175
    n = 1
    t = 15
    P = 695

    A = P*(1+r/n)^n*t=695(1+0.2175/1)^15
    A = $13305.14

Answer This Question

First Name
School Subject
Your Answer

Related Questions

More Related Questions

Post a New Question