Barry Newman's savings account has a balance of $4088. After 25 years, what will the amount of interest be at 6% compounded annually?
The answer is 13, 457 .16$
Amount after 25 yrs = P (1+r%)^n
So Interest = Amount after 25 yrs - P
= 17545.16 - 4088
= 13, 457 .16$
Please let me know if you have any other questions and best me if you are satisfactory.
Content will be erased after question is completed.
Enter the email address associated with your account, and we will email you a link to reset your password.
Forgot your password?