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Jobisdone [24]
3 years ago
14

Find the future value of a 10-year investment of $3500 at a simple annual rate of 3.49%.

Mathematics
1 answer:
Setler79 [48]3 years ago
4 0

Answer:

You can plug in the simple interest formula A=P(1+rt) to get the amount is equal to  3500 (the principal in this case) times 1+ 3.49/100(10). This is 3500(1.349), and this is $4721.5.  

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