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If $2800 is invested for 17 years at 6% compounded annually, find how much money you will have? Use the formula : A=(1+(r)/(n))^(nt)

Respuesta :

[tex]\bf \qquad \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\to &\$2800\\ r=rate\to 6\%\to \frac{6}{100}\to &0.06\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{annually, thus once} \end{array}\to &1\\ t=years\to &17 \end{cases} \\\\\\ A=2800\left(1+\frac{0.06}{1}\right)^{1\cdot 17}[/tex]

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