Question

Please help me math guy thanks

Answer 1

Answer:

$1013.42

Step-by-step explanation:

This one would be similar to the previous.

Initial investment, P = 800

Annual Interest rate, r = 12%

Number of compouding in a year, n = 4

Time Period, t = 2 years

Using formula:

Future value,

A = P(1+r/n)^(nt)

= 800 (1+0.12/4)^(4*2)

= 800 (1.03)^(8)

= 1013.42 (to the nearest cent)