issabadshortiii issabadshortiii

21-09-2020
Mathematics

contestada

Aaron deposits $20,000 in a bank account that earns 5.9%
compounded quarterly. The amount of money, A, in the account
can be determined by the formula
A = 20,000 (1 + 0.059)
where 1 is the number of years that the money is in the bank,
How much money does Aaron have after 10 years?
41

Respuesta :

tomamarip tomamarip

22-09-2020

Answer:

A=20000(1+0.059)^10

A=$35,480.49

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