The amount of money the person would have in 8 years s $2541.74.
<h3>How much would the person have in 8 years? </h3>
The formula for calculating future value is:
FV = P (1 + r)^nm]
Where:
FV = Future value
- P = Present value = $2000
- R = interest rate = 3% / 12 = 0.25%
- m = number of compounding = 12
- N = number of years = 8 years
Value of the account in 8 years with monthly compounding = $2000(1.0025)^(12 x 8) = $2541.74
To learn more about future value, please check: brainly.com/question/18760477
Answer:
It is first answer
Step-by-step explanation:
Answer:
37005
36740
35205
Step-by-step explanation:
Step-by-step explanation:
Answer: They cost the same amount.
Step-by-step explanation:
35(0.20)=7
35-7=28
40(0.30)=12
40-12=28
28=28
