2 years ago

A principal of $2900 is invested at 4.25% interest, compounded annually. How much will the investment be worth after 7 years?

Mathematics

1 answer:

olga2289 [7]2 years ago

4 0

Let S = Sum after 13 years

So = amount invested

t = time in years

i = annual interest rate = .0325

The S = So(1+i)t = $2,200(1.0325)13 = $3,334.21

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