You put $939 into an investment at 8% for six years. What will the balance be at the end of six years?
2 answers:
Answer:
$1490.074
Step-by-step explanation:
Hello
Well, the formula for determining the final capital is as follows: CF = CI (1 + i) ^ n where CF is the final capital, CI is the initial capital, i is the interest rates and n is the term or number of periods
step 1
we need to convert the 8% to decimal
8%= 8/100 = 0.08
Step 2
replace
Cf= $1490.074
final balance $1490.074
have a great day.
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