The simple rules in adding equation is
- simplify like terms first
- then get one variable on one side of the equation
- then solve the rest
Answer:
FV= $2,041.29
Step-by-step explanation:
Giving the following information:
Initial investment (PV)= $1,500
Number of periods (n)= 7 years
Interest rate (i)= 4.5% = 0.045
<u>To calculate the future value, we need to use the following formula:</u>
FV= PV*(1+i)^n
FV= 1,500*(1.045^7)
FV= $2,041.29
1 Hour is longest then 1 minute then 1 second is shortest
