Aaron invest 7,833 in a savings account with a fixed annual interest rate of 9% compounded 12 times per year. What will the account balance be after 6 years?

The account balance is 13414.43

Step-by-step explanation:

Given:

Amount invested = 7833

Interest rate = 9% = 9/100 = 0.09

To find: account balance after 6 years when interest is compounded 12 times per year

We know that the formula to calculate final balance when interest is compounded is given by

A = P , where

A is final balance

P is amount deposited initially

r is annual interest rate

n is number of times interest is compounded per year

t is time in years

Therefore for given data, final balance is

A = 7833 x

   = 7833 x

   = 7833 x 1.712552707

   = 13414.43

Hence the account balance is 13414.43

let's solve your equation step-by-step.

4x+2=2x+12

step 1: subtract 2x from both sides.

4x+2−2x=2x+12−2x

2x+2=12

step 2: subtract 2 from both sides.

2x+2−2=12−2

2x=10

step 3: divide both sides by 2.

2x

2

=

10

2

x=5

step-by-step explanation:

560

hope this : )