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How much is 170 compounded for 14 years at 6 percent.

Sagot :

[tex]~~~~~~ \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}\dotfill &\$170\\ r=rate\to 6\%\to \frac{6}{100}\dotfill &0.06\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{annually, thus once} \end{array}\dotfill &1\\ t=years\dotfill &14 \end{cases} \\\\\\ A=170\left(1+\frac{0.06}{1}\right)^{1\cdot 14}\implies A=170(1.06)^{14}\implies A\approx 384.35[/tex]

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