Correct answers only please!
Quincy has $6,000 in a savings account that earns 4% intere...
Mathematics, 02.06.2020 06:58, 1162
Correct answers only please!
Quincy has $6,000 in a savings account that earns 4% interest, compounded annually.
To the nearest cent, how much interest will he earn in 5 years?
Use the formula B = p(1 + r)t, where B is the balance (final amount), p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.
Answers: 3
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