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Charlotte opened a savings account and deposited 6,000.00 as principal. The account earns 14% interest, compounded annually. What is the balance after 9 years?

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解答

Charlotteopenedasavingsaccountanddeposited6,000.00asprincipal.Theaccountearns14%interest,compoundedannually.Whatisthebalanceafter9years?

解答

Amount:19511.69
求解步骤
Translate the problem into an equation:A=6000(1+10.14​)1⋅9
6000(1+10.14​)1⋅9=19511.69112…
Round to the nearest hundredth:19511.69
Amount:19511.69

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