Answer
$A \approx 11075.68$
Work Step by Step
Use the formula for compound interest with
$P=6902$
$r=0.06$
$m=2$
$t=8$
$A=P(1+\frac{r}{m})^{tm}$
$A=6902(1+\frac{0.06}{2})^{8(2)}$
$A \approx 11075.68$
Calculus with Applications (10th Edition)
by Lial, Margaret L.; Greenwell, Raymond N.; Ritchey, Nathan P.
Published by
Pearson
ISBN 10:
0321749006
ISBN 13:
978-0-32174-900-0
Chapter 2 - Nonlinear Functions - Chapter Review - Review Exercises - Page 114: 88
Update this answer!
You can help us out by revising, improving and updating this answer.
Update this answerAfter you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.
