Solve. 8 - 2d = c 4c + 3d = 2 c=4 d = -6 C=-4 d = 6 C=4 d = 6 C=-4 d = -6
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The amount gotten after $1689 invested for 4 years at 3% compounded annually is $1901
The amount of money gained after an investment is compounded is given by:
Where P is principal, A is the final amount, r is the rate, n is the number of times compounded per period and t is the time
Given that P = $1689, t = 4, r = 3% = 0.03, n = 1, hence:
The amount gotten after $1689 invested for 4 years at 3% compounded annually is $1901
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