brieller brieller

07-06-2017
Mathematics

contestada

A principal of
$2300
is invested at
5.25%
interest, compounded annually. How much will the investment be worth after
13
years?

Respuesta :

Aliwohaish12 Aliwohaish12

07-06-2017

Hi there
The formula is
A=p (1+r)^t
A future value?
P present value 2300
R interest rate 0.0525
t time 13 years
So
A=2,300×(1+0.0525)^(13)
A=4,473.17

Hope it helps

Answer Link

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