3 years ago

Justyna invested $1500 in an account at a 2.5% interest rate compounded annually. She made no deposits or withdrawals on the

Mathematics

2 answers:

Travka [436]3 years ago

8 0

Answer:

$1783.03

Step-by-step explanation:

You use the formula for finding the interest rate.

So 1500(1+.025)^7

Which you put that in a calculator and it comes to out to 1783.0286. Then just round up.

Hope this helps

Brainliest would be appreciated

olga55 [171]3 years ago

4 0

Answer:

$1783.03

Step-by-step explanation:

Annually compounding interest formula:

PV(1+i)ⁿ

1500(1+.025)⁷

1500(1.025)⁷

1783.028631

which rounds to

1783.03

You might be interested in

Solve the given equation

AlexFokin [52]

Eliminate the fractions by multiplying by least common multiple.
4,9,12 all go into 36 evenly. Multiply entire equation by 36.

36/4 = 9
36/9 = 4
36/12 = 3

New equation looks like:
$9(w-1) +4(w+1) = -3(w+1) \\ \\ 9w -9 +4w +4 = -3w -3 \\ \\ 9w +4w+3w = -3 +9 -4 \\ \\ 16w = 2 \\ \\ w = \frac{2}{16} = \frac{1}{8}$