Suppose your friend's invest 15,000 in an account paying 4% compounded annually. What will the balance be after 9 years
1 Expert Answer
Experienced Mathematics Tutor w/ Master's Degree in Math
A = P(1 + r/n)nt
A = 15000(1 + .04/1)1(9)
A = 15000(1.04)9
A = 15000(1.423312)
A = $21,349.68
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