Respuesta :

hyderali230

Answer:

$1,182

Explanation:

Deposit Amount = PV = $500

Interest rate = r = 3.5%

Number of Years = n = 25 years

Balance of account after 25 years = ?

By using following formula we can calculate thae worth of account after 25 years

Future Value = Present value x ( 1 + rate in interest )^number of years

FV = PV [tex](1+r)^{n}[/tex]

FV = $500 x [tex](1+(3.5/100))^{25}[/tex]

FV = $500 x [tex](1+0.035)^{25}[/tex]

FV = $500 x [tex](1.035)^{25}[/tex]

FV = $1,181.62 = $1,182

Tundexi

The amount that the account will be worth at the end of 25 years is $1,182.

Given data

Deposit Amount = PV = $500

Interest rate = r = 3.5%

Number of Years = n = 25 years

Balance of account after 25 years = ?

Future Value = Present value * ( 1 + Rate in interest )^number of years

Future Value = $500 * (1+0.035)&25

Future Value = $1,181.62

Future Value = $1,182

In conclusion, the amount that the account will be worth at the end of 25 years is $1,182.

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