Carolynryan13 Carolynryan13

06-12-2019
Mathematics

contestada

Sam put $1200 into his savings account where she earns 3.5% per year. She leaves the money in the account for 6 years. How much intrest will she earn? How much money will be in the account after 6 years?

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altavistard altavistard

06-12-2019

Answer:

$1475.11

Step-by-step explanation:

Assume compounding once annually. Then:

A = P(1 + r)^t becomes:

A = $1200(1 + 0.035)^6, or

= $1200(1.035)^6, or

= $1475.11

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