Question

The expression 2500(1.15)t represents the value of a ​$2500 investment that earns 15​% interest per​ year, compounded annually for t years. What is the value of a ​$2500 investment at the end of 5 ​years?

Answer 1

$5028.4

Explanation:

The expression for that investment will be 2500*(1.15)^t where t is in years, the value of the investment will be 2500*(1.15)^5=5028.4