Find the best answers to your questions at Westonci.ca, where experts and enthusiasts provide accurate, reliable information. Explore thousands of questions and answers from a knowledgeable community of experts ready to help you find solutions. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.
Sagot :
Answer:
From the question, Stacey deposits $2600 six times over a thirty year period since she makes the deposit every five years. Her amount accures by the formular. A = P(1+r/n)^nt. Where her principal P = $2,600. Rate, r =6% =0.06. Time = 30 years and the period of compounding per unit time, n = 6 years. So we have A =2, 600(1+(0.06/6))^(6*30) = 2, 600 (1 + 0.01)^(180) = 2600* 5.9958 = $15, 587. To the nearest cent we have $15, 590.
Step-by-step explanation:
:)
Visit us again for up-to-date and reliable answers. We're always ready to assist you with your informational needs. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.