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katen-ka-za [31]
4 years ago
10

What would be the value of $150 after eight years if you earn 12 percent interest per year? $371.39 $415.96 $465.88

Mathematics
2 answers:
Mice21 [21]4 years ago
7 0

Answer: $371.39

Step-by-step explanation:

The formula to calculate the compound amount after t years is given by :-

A=P(1+r)^t, where P is the principle amount and  r is the rate of interest.

Given: Principle amount =$150

The rate of interest = 12%=0.12

Now, the amount compounded after 8 years will be:-

A=150(1+0.12)^8=150(1.12)^8=371.394476444\approx371.39

Hence, the value of $150 after eight years if you earn 12 percent interest per year would be $371.39.

guajiro [1.7K]4 years ago
3 0
$371.39.
Hope it helps
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