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6. Derise Has 90 in a Savings Account That Compounded Amaly to the Tearest Pering How Much Will She Have in 3 Years? Don't Answer, or

Problemas

6. Derise has 90 in a savings account that compounded amaly to the tearest pering how much will she have in 3 years? don't answer, or slip ing spaces in answer. square

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Isaac maestro · Tutor durante 5 años
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Respuesta

To solve this problem, we need to use the formula for compound interest: where:- is the amount of money accumulated after years, including interest.- is the principal amount (the initial amount of money).- is the annual interest rate (in decimal).- is the number of times that interest is compounded per year.- is the time the money is invested for, in years.Given:- - (assuming an annual interest rate of 5%)- (compounded annually)- Plugging these values into the formula: Rounding to the nearest cent, Derise will have approximately 103.92 in her savings account after 3 years.