Math help needed to find the accumulated amount A #3

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  1. Find the accumulated amount A if the principal P = $2,000 is invested at the interest rate of r = 6% per year for t = 6 years, compounded annually.
    A.
    B.
    C.
    D.
Nov 9th, 2015

Thank you for the opportunity to help you with your question!

2000*1.06^6=2,837.04

Multiply by 1.06 for each of the six years. Raising it to the sixth power is the same as multiplying by that number 6 times.

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Nov 9th, 2015

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