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IrinaK [193]
3 years ago
7

An investment of 4000 earns 2% interest compounded annually. what will be the value of the investment in 7 years?

Mathematics
2 answers:
Gnoma [55]3 years ago
6 0

Answer:

$4594.74

Step-by-step explanation:

we will use the compound interest to solve-

a=p(1+r)^t

a=final number

p=principal balance (initial)**without interest**

r=interest rate

t=the amount of time

p=$4000

t= 7yrs

r=2%=0.02

we need to turn 2% into a decimal, to do that you divide 2 by 100 which is 0.02

now we rewrite the equation-

a=4000(1+0.02)^7

a=4000*1.1486

the answer is

$4594.74

good luck :)

i hope this helps

have a nice day !!

slava [35]3 years ago
4 0
4,560


Because 2% of 4,000 is 80. 80 times 7 plus the original 4,000 equals 4,560
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3 years ago
The figure below shows a trapezoid, ABCD, having side AB parallel to side DC. The diagonals AC and BD intersect at point O.
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<u>Answer</u>

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the initial starting salary for a summer camp counselor is $14 per week. Starting with the first week, the salary doubles to enc
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Answer:

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Step-by-step explanation:

Since the initial starting salary for a summer camp counselor is $ 14 per week, and starting with the first week, the salary doubles to encourage the counselor to work for the entire summer, to write an equation that models the salary (y) of the camp counselor per week (x), and determine, if the camp runs for 12 weeks, how much would a camp counselor make, the following calculations should be performed:

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