3 years ago

How much would $200 invested at 7% interest compounded annually be

Mathematics

1 answer:

raketka [301]3 years ago

3 0

<h3>Answer: Choice A. $280.51</h3>

Work Shown:

A = P*(1+r/n)^(n*t) .... compound interest formula

A = 200(1+0.07/1)^(1*5) .... plug in given info

A = 200*(1.07)^5

A = 200*1.4025517307

A = 280.51034614

A = 280.51

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