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forsale [732]
3 years ago
8

If a person invests $290 at 6% annual interest, find the approximate value of the investment at the end of 15 years. A. $450 B.

$2030 C. $695 D. $707
Mathematics
1 answer:
spin [16.1K]3 years ago
4 0

Answer:

\large \boxed{\sf \bf \ \ C. \ \$ 695 \ \ }

Step-by-step explanation:

Hello, please consider the following.

At the beginning, we have $290.

After 1 year, we get 290 + 6% * 290 = 290 (1+0.06)= 290 * 1.06

After n years, we get 290\cdot 1.06^n

So after 15 years, we get.

290\cdot 1.06^{15}=695.0018...

Thank you

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Answer: False

=============================================

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