Answered

IDNLearn.com is your go-to platform for finding accurate and reliable answers. Find reliable solutions to your questions quickly and easily with help from our experienced experts.

Helppp me pleaseee ASAP

Helppp Me Pleaseee ASAP class=

Sagot :

Mathmateidn

Answer:

$856.91  after 7 years

Step-by-step explanation:

Initial investment, P = 500

Interest rate, i = 8% (compounded once a year, i.e. annually)

Number of years, t = 7

Substitute in compound interest formula

Future value,

A = P (1 + 0.08/1) ^(1*7)

= 500 (1.08)^7

= 856.91 (to the nearest cent)

Thank you for using this platform to share and learn. Keep asking and answering. We appreciate every contribution you make. IDNLearn.com has the answers you need. Thank you for visiting, and we look forward to helping you again soon.