What are the possible answers for the equation 9x?- 16 = 0 ? A. 1-13, 13) 4 4 } 3 3 C. 14, VA) D. 3, 3) 16 E.
1 answer:
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Answer:
Future value = $755.61 ( to the nearest cent)
Step-by-step explanation:
The formula for calculating the future value of an invested amount compounded periodically for a number of years is given as:
where:
FV = future value = ???
PV = present value = $575
r = interest rate in decimal = 5.5% = 0.055
n = number of compounding periods per year = quarterly = 4
t = time of investment = 5 years
∴
∴ Future value = $755.61 ( to the nearest cent)