hollisb33 hollisb33

20-05-2021
Mathematics

contestada

$1,800 principal earning 5%, compounded annually, after 9 years

Respuesta :

20-05-2021

Answer:

$2792.39

Step-by-step explanation:

→ Work out interest rate

( 100 + 5 ) ÷ 100 = 1.05

→ Multiply the amount by the interest rate to the power of 9

1800 × ( 1.05 )⁹ = 2792.39

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