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Shawn has $2,500 invested at a guaranteed rate of 4.35 percent, compounded annually. What will his investment be worth after five years

Respuesta :

abiolataiwo2015

Based on the information given his investment be worth after five years is:  $3,093.16.

Future value

Using this formula

FV (5) =Principal×(1+Rate)^ Time

Where:

Principal=$2,500

Rate=4.35%

Time=5 years

Let plug in the formula

FV (5) = $2,500 x( 1+.0435)^5

FV (5) = $2,500 x( 1.0435)^5

FV (5) = $3,093.16

Inconclusion his investment be worth after five years is:  $3,093.16.

Learn more about future value here:https://brainly.com/question/24703884

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