Please help! I will mark brainliest.
Sean opened a savings account and deposited $1,000....
Mathematics, 03.04.2020 22:19 davidsteck99
Please help! I will mark brainliest.
Sean opened a savings account and deposited $1,000.00 as principal. The account earns 6% interest, compounded annually. What is the balance after 7 years?
Use the formula A=P(1+ʳ/ₙ)ⁿᵗ, where A is the balance (final amount), P is the principal (starting amount), r is the interest rate expressed as a decimal, n is the number of times per year that the interest is compounded, and t is the time in years.
Round your answer to the nearest cent.
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