Find the future value of $1800 deposited at 8% for 5 years if the account pays simple interest, and the account pays interest co

Question

iogann1982 [59]

4 years ago

6

Find the future value of $1800 deposited at 8% for 5 years if the account pays simple interest, and the account pays interest co

mpounded annually.

Mathematics

2 answers:

never [62] · Answer 1 · 2022-01-22T12:36:45+03:00

never [62]4 years ago

3 0

For one year:
0.08(1800) + 1800
But because it is 5 years:
5(0.08(1800)) + 1800
0.4(1800) + 1800
We can make it simpler:
1.4(1800)
Multiply:
2520
YOU NOW HAVE $2520

Reika [66] · Answer 2 · 2022-01-22T14:19:34+03:00

Reika [66]4 years ago

3 0

Answer:

The answer is 2,644.79.

You would have to calculate the three variables to get and complete your answer.

Step-by-step explanation: