You want to deposit $15,000 in a bank at an interest rate of 7 percent per year. What is the future value of this money after th
ree years? A)$18,375.65 B)$19,661.94 C)$20,407.33
2 answers:
The answer you are looking for is A
we know that
The compound interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
substitute in the formula above
therefore
<u>the answer is </u>
You might be interested in
4g and 6b and that's a total of 10 in all so you know it will be 1/2 if its going to be two out of two
Answer:38
Step-by-step explanation:
you put 3 in front of 8 and you get 38
Answer:
1
Step-by-step explanation:
Answer:
500 + (100 x 5) = 1000
Step-by-step explanation:
Answer:
85
Step-by-step explanation:
got it right