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Amanda [17]
3 years ago
7

You want to ctegsosit $15,00na bank at an interest rate of 7 percent per year What is the uture vale of this money after three y

es?
tuture value P+)
present value +0
OA S1837563
OR $19661.94
OC $20407.33
Business
1 answer:
Svetlanka [38]3 years ago
6 0

Answer:

A $18, 375.63

Explanation:

The amount to be deposited is $15,000

Interest rate is 7 percent

time is 3 years

the future value will be; the applicable formula

A = p x ( 1 + r) ^n

A = $15,000 x ( 1 + 7/100) ^ 3

A= $15,000 x 1.225043

A=$18,375. 64

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