aracelisrivera aracelisrivera

11-05-2022
Mathematics

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If you deposit $1,500 at 3% monthly, how much money do you have in 6 years?

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ishaandagamer ishaandagamer

11-05-2022

Answer: $1795.42

Step-by-step explanation:

[tex]A = P(1+\frac{r}{n} )^{nt}[/tex]

A = 1500

r = 3%

n = 12

t = 6

[tex]A = 1500(1+\frac{0.03}{12} )^{12*6}[/tex]

A = $1795.42

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