(b) Roland invests $12000 in an account that pays compound interest at a rate of 2.2% per year. Calculate the value of his investment at the end of 6 years. Give your answer correct to the nearest dollar. A = P ( 1 + 1)" 100 A = 12000 (1+ 2.2) A = 13673.71806 A=13674 13674
(b) Roland invests $12000 in an account that pays compound interest at a rate of 2.2% per year. Calculate the value of his investment at the end of 6 years. Give your answer correct to the nearest dollar. A = P ( 1 + 1)" 100 A = 12000 (1+ 2.2) A = 13673.71806 A=13674 13674
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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Transcribed Image Text:(b) Roland invests $12000 in an account that pays compound interest at a rate of 2.2% per year.
Calculate the value of his investment at the end of 6 years.
Give your answer correct to the nearest dollar.
A = P ( 1 + 1)"
100
A = 12000 (1+ 2.2)
A = 13673.71806
A=13674
13674
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