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Tiy deposit $500 in a savings account that earns 7% interest compounded annually.

Tiy deposit $500 in a savings account that earns 7% interest compounded annually.
asked 196k views
23 votes
Tiy deposit $500 in a savings account that earns 7% interest compounded annually.

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User Riqitang
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9.3k points

1 Answer

7 votes
500(1+.07/1)^1t assuming t=1 year here the answer would be 535
answered
User ModusCell
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7.9k points
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