Raul deposited $5,000 into a retirement account with an annual interest rate of 1.8%. He made no deposits or withdrawals for 15 years. If interest was compounded annually, which equation represents the balance in the account after 15 years? * Captionless Image

Answer :

mariahm9052

Answer:

A = 5000 (1 + 0.018) ^15

Step-by-step explanation:

The equation that represents the balance in the account after 15 years is : A = 5000(1 +0.018)^15.

Using this formula

A = P (1 + r)^t  

Where:

A=Amount=?

Principal=$5,000

r=Interest rate=1.8% or 0.018

t=time=15 year

Let plug in the formula

A=5000(1 + 0.018)^15

A=5000(1.018)^15

A=5000(1.30682270)

A= $6,534.11

Inconclusion the he equation that represents the balance in the account after 15 years is : A = 5000(1 +0.018)^15.

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