3 years ago

I need help on this problem

Mathematics

1 answer:

Nookie1986 [14]3 years ago

3 0

It’s c
-10, -9, -8

Sawarasenai kimi wa shojo na no!~ boku wa yarichin bicchi no osu dayo! ah~

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A principal of $3500 is invested at 7.5% interest, compounded annually. How much will the investment be worth after 13 years? Us

Anna71 [15]

The equation is for when you compound annually is
$A=P(1+r)^t$

A=future amount
P=initial amount or principal
r=interest rate in decimal form
t=time in years

so
A=A
P=3500
r=7.5%=0.075
t=13

$A=3500(1+0.075)^{13}$
$A=3500(1.075)^{13}$
use your calculator
A=8961.4457
round to nearest dollar
A=$8961

that's how much the investment will be worth after 13 years

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