Answered

Westonci.ca connects you with experts who provide insightful answers to your questions. Join us today and start learning! Get immediate and reliable solutions to your questions from a knowledgeable community of professionals on our platform. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

Tom opens a bank account and makes an initial deposit of $500. The banker tells Tom that he is going to receive an annual rate of 6% on his investment. Find the bank balance assuming Tom leaves the account untouched for 15 years.

Sagot :

elijahsteen41

Answer:

Well, at approximately 15 years, Tom should have $1198.28 in his account.

Step-by-step explanation:

We appreciate your visit. Hopefully, the answers you found were beneficial. Don't hesitate to come back for more information. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.