What is the value of 500$ invested at 4% interest compounded annually for 7 years
1 answer:
Answer:
657.96
Step-by-step explanation:
use formula A=P(1+r/n)^nt
A=500(1+.04/1)^1*7
A=500(1.04)^7
A=500(1.3159~)
A= 657.96~
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