Answer:
Future value A = P(1+r)^(t)
A = 27000(1+0.065)^1
A = 27000(1.065)
A = 28755 units
Corrected question;
The price of a new Ford F-150 has increased by 6.5% this year. If the price was 27,000 last year, which expression can be used to calculate the price of the new Ford this year
Step-by-step explanation:
Applying the future value formula;
A = P(1+r)^(t) .....1
Where;
A = final amount/value
P = initial amount/value (principal)
r = rate yearly
t = time in years
Given;
P = 27,000
r = 6.5% = 0.065
t = 1 year
Substituting the given values;
So A = 27000(1+0.065)^1
A = 27000(1.065)
A = 28755 units
