Nmer050194 Nmer050194
  • 04-04-2018
  • Mathematics
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Help with this math question please

Help with this math question please class=

Respuesta :

Professor1994 Professor1994
  • 04-04-2018
Amount of money invested: P=$900
Interest rate percentage in decimal form: r=5.5%=5.5/100→r=0.055
Time in years: t=6
Total amount in the acount at time t: A=?

A=Pe^(rt)
A=$900e^(0.055*6)
A=$900e^0.33
A=$900(1.390968128)
A=$1,251.871315
A=$1,251.87

Answer: Balance of the account after 6 years is $1,251.87
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