Which of these career positions typically advise customers of the amount of money they need to support their families in case of
2 answers:
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Answer:
And rounded to the nearest cent we got
Explanation:
For this case we can use the future value formula given by:
Where FV represent the future value
PV represent the present value $ 28500
i represent the interest rate of the annual raised in fraction i = 0.035
n =1 since represent the number of times that the interest is compounded in 1 year, and since the rate is yearly then n=1
t represent the number of years and for this case t=15
If we replace the values given we have:
And rounded to the nearest cent we got