Answer:
$20,960
Step-by-step explanation:
Melissa's parent saved 8 000 dollars in the bank for her college fund account. It earns 9% annual interest. After 18 years, how much interest will it accumulate and how much is the total amount that Melissa will have fore her college fund.=> 9% = 9% / 100% = 0.09Let's find the annuak interest first => 8 000 dollars * .09 = 720 dollars The, let's find the after 18 years interest=> 720 dollars * 18 = 12 960 dollarsTotal of the amount: => 8 000 + 12 960 = 20 960 dollars
This is the same as the one above me but in simpler terms
Step-by-step explanation:
I =8000 x 9 x 18 =12,960
Total amount = 12960 +8000= $20,960
Answer:
$12960
Step-by-step explanation:
A=P(1+rt)
8000(1 + (0.09 × 18)) = 20960
A = $20,960.
I = A - P
I=20960-8000
ANS=$12960
