Answer
2,963.11 dollars
Work Step by Step
$A=P(1+\frac{r}{n})^{nt}$
$P=1600$
$r=.09$
$n=2$
$t=7$
$A=P(1+\frac{r}{n})^{nt}$
$A=1600(1+\frac{.09}{2})^{2*7}$
$A=1600(1+.045)^{14}$
$A=1600(1.045)^{14}$
$A=1600*1.851945$
$A=2963.11$
Algebra: A Combined Approach (4th Edition)
by Martin-Gay, Elayn
Published by
Pearson
ISBN 10:
0321726391
ISBN 13:
978-0-32172-639-1
Chapter 12 - Review - Page 905: 34
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