WolferiTiffa6nie4c WolferiTiffa6nie4c
  • 09-05-2017
  • Mathematics
contestada

A principal of $1500 is invested at 7.25% interest, compounded annually. How much will the investment be worth after 14 years?

Respuesta :

eggyolkk
eggyolkk eggyolkk
  • 12-05-2017
Using formula: P*[1+(r/100)]^t
where:
P = $1500
t = 14
r = 7.25%

Gives you: $3996.257562
> $3996.26 (nearest cent)
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