We're going to use the compounded intrest formula:
Where P is the initial cost
r is the rate as a decimal
n is the amount per year that you invest the rate
t is the amount of time at which you're checking how much it's worth (yrs)
Using this information, we can use:
So your answer will be B.
Where P is the initial cost
r is the rate as a decimal
n is the amount per year that you invest the rate
t is the amount of time at which you're checking how much it's worth (yrs)
Using this information, we can use:
So your answer will be B.