Answer:
FV= PV*(1+i)^t
Step-by-step explanation:
Giving the following information:
Initial investment (PV)= $2,000
Interest rate (i)= 3.2% = 0.032
Number of periods= t
To calculate the future value (FV) of the investment, we need to use the following formula:
FV= PV*(1+i)^t
For example, Susan invests for 4 years:
FV= 2,000*(1.032^4)
FV= $2,268.55
The expression best represents the value of her investment after t years is [tex]FV= PV\times (1+i)^t[/tex]
Since
Susan won $2000 and invested it into an account with an annual interest rate of 3.2%.
Here Number of periods= t
Therefore we can conclude that The expression best represents the value of her investment after t years is [tex]FV= PV\times (1+i)^t[/tex]
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