Mybagismissing
Mybagismissing Mybagismissing
  • 07-05-2021
  • Mathematics
contestada

An investment of $4000 earns 2% interest compounded annually. What will be the value of the investment in 7 years?

Respuesta :

tamiyamcclain596
tamiyamcclain596 tamiyamcclain596
  • 08-05-2021
$4594

a=p(1+r)^t
a=final number
p=principal balance (initial)**without interest**
r=interest rate
t=the amount of time
p=$4000
t= 7yrs
r=2%=0.02
we need to turn 2% into a decimal, to do that you divide 2 by 100 which is 0.02
now we rewrite the equation-
a=4000(1+0.02)^7
a=4000*1.1486
Answer Link

Otras preguntas

Urgent Help Needed!! Please EXPLAIN!!!
How do I find the solution for this quadratic?
Pedro’s Father is building a shed how many square feet of wood are needed
How does the author foreshadow Arachne’s fate through her characterization?
Credit cards a three-digit security code on the back of cards. What is the probability that a code starts with the number 7?
In spermatogenesis, meiosis results in the formation of
find the difference. express your answer in simplest form. (4r/s) - (r/s)
What health science professional sees patients three times a week for a procedure to filter wastes from their bloodstream?
Lithium hydroxide is used to purify air by removing carbon dioxide. a 25.00ml sample of lithium hydroxide solution is titrated to an end point by 15.22 ml of a
Based on the values you obtained for δh∘rxn, which of the reactions would you expect to be thermodynamically favorable and which would be unfavorable? no. react