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math987 math987
  • 31-01-2017
  • Mathematics
Answered

You deposit $750 into a savings account that pays 8% interest compounded yearly.How much money is in the account after 7 years assuming no additional deposits or withdrawals were made

Verified Answer :

wolf1728
wolf1728 wolf1728
  • 01-02-2017

Total = Principal (1 + rate)^years
Total = 750
(1.08) ^ 7
Total = 750 *



1.7138242688




Total =



1,285.3
7

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