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pychu [463]
3 years ago
9

lenny deposits $7,000 in an IRA. What will be the value of his investment in 3 years if the investment is earning 1.95% per year

​
Mathematics
2 answers:
lorasvet [3.4K]3 years ago
4 0

Step-by-step explanation:

The interest is 1.95 percent.

1.95 percent = 1.0195

Value after 3 years =

1.0195 {}^{3}  \times 7000

= $7417.54 (to the nearest cent)

gogolik [260]3 years ago
3 0

Answer:7421.71

Step-by-step explanation:

A=?

p=7000

r=0.0195

t=3years

a=7000e^0.0195*3

a=7421.71

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