Register

You deposit $1295 dollars in a mutual fund that provides an average return of 8.4% interest compounded annually. Find your account balance after 7 years.

You deposit $1295 dollars in a mutual fund that provides an average return of 8.4% interest compounded annually. Find your account balance after 7 years.
asked 8.1k views
1 vote
You deposit $1295 dollars in a mutual fund that provides an average return of 8.4% interest compounded annually.

Find your account balance after 7 years.

asked
User Anatoly Rr
by
7.9k points

1 Answer

7 votes

Answer:

761.46

Explanation:

multiply 8.4% and 1295 which would equal 108.78...

then multiply it with 7 which would equal 761.46

answered
User Plsgogame
by
8.2k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!