| Student Portal Main × Log In l LoudCloud Syst × @ Do Homework . Tressa- × uu M

Question

| Student Portal Main × Log In l LoudCloud Syst × @ Do Homework . Tressa- × uu Mathwa Secure | https://www.mathxl.com/Student/PlayerHomework.aspx?homeworkId-44 1380 MAT-144-TR700B Homework: Homework Week 11 Score: 0 of 1 pt 5 of 46 (39 complete Use the appropriate compound interest formula to compute the balance in the account after the stated period of time $9,000 is invested for 13 years with an APR of 2% and monthly compounding. The balance in the account after 13 years is $ Round to the nearest cent as needed.) Enter your answer in the answer box and then click Check Answer All parts showing Clear All O Type here to search

Explanation / Answer

Principal amount(PV) = $ 9000

number of periods= 13 years = 13*12 = 156 months

APR = 2% =2%/12 monthly

Now Balance in account after 13 years = FV(rate,nper, pmt,pv) = $ 11,669.84

Related Questions

Navigate

• Browse (All)
• Browse #
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.