Intermediate Algebra (6th Edition)

Published by Pearson
ISBN 10: 0321785045
ISBN 13: 978-0-32178-504-6

Chapter 9 - Section 9.3 - Exponential Functions - Exercise Set - Page 560: 49

Answer

$4065.59

Work Step by Step

$A=P*(1+\frac{r}{n})^{n*t}$ $t=2*12$ $P=2000$ $r=.06$ $n=2$ $A=P*(1+\frac{r}{n})^{n*t}$ $A=2000*(1+\frac{.06}{2})^{12*2}$ $A=2000*(1+.03)^{24}$ $A=2000*(1.03)^{24}$ $A=2000*2.032794$ $A =4065.588$ $A =4065.59$
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