The expression 1000(1.1)t represents the value of a $1000 investment that earns 10% interest per year, compounded annually for t
2 answers:
Answer: $1464.1
Step-by-step explanation:
Given : The expression represents the value of a $1000 investment that earns 10% interest per year, compounded annually for t years.
To find the value of a $1000 investment at the end of 4 years, we need to put the value of t = 4 in the given expression , we get
Hence, the value of a $1000 investment at the end of 4 years = $1464.1
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Answer:
Step-by-step explanation:
Use the formula
Fill in the info we are given:
and
and
1210 = P(1.255632915) so
P = $964