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06-11-2020
Mathematics

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Suppose your friend's parents invest $15,000 in an account paying 7% compounded annually. What will the balance be after 6 years?

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zrh2sfo zrh2sfo

09-11-2020

Answer:

$22,510.96

Step-by-step explanation:

Final investment value

$22,510.96

Total interest earned

$7,510.96

Initial balance

$15,000.00

Total monthly deposits

$0.00

Effective Annual Rate (APY)

7%

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