You plan to invest $1,210 a year for 7 years at a 9 percent annually? How much will you have in 7 years? Assume the first invest
ment is made in one year.
1 answer:
Answer:
See below
Step-by-step explanation:
For SIMPLE interest :
1210 + 1210 * .09 * 7 = <u> $ 1972.30</u>
For ANNUAL COMPOUNDING of interest
1210 ( 1 + .09)^7 = <u>$ 2211.93</u>
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I do not know which one you need....what are you studying presently?
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