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Can someone help me real quick? a principal of $3400 is invested at 4% interest, compounded annually. how much will the investment be worth after 7years? round your answer to th…

Can someone help me real quick? a principal of $3400 is invested at 4% interest, compounded annually. how much will the investment be worth after 7years? round your answer to th…
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1 vote
Can someone help me real quick?

a principal of $3400 is invested at 4% interest, compounded annually. how much will the investment be worth after 7years?
round your answer to the nearest dollar

asked
User BernardK
by
8.3k points

1 Answer

1 vote

3400(1 + (4)/(100) ) {}^(7) = 4474
to the nearest dollar! if it's to the nearest cent, it'll be $4474.17
answered
User Ankit Singla
by
8.2k points
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