Caden has an offer to buy an item with a sticker price of $7400 by paying
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Answer:
$3375 money would the student council have in four years if they invest $3000 at 5% interest compounded yearly.
Step-by-step explanation:
We are given:
Principal Amount = $3000
Interest Rate r = 5% or 0.05
n=1 (compounded yearly)
Years t= 4
We need to find future value (A)
The formula used is:
Putting values in formula and finding future value A
So, $3375 money would the student council have in four years if they invest $3000 at 5% interest compounded yearly.