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Mr. Nicholas invested $4,250 into an account that pays 3.5% interest, compounded annually. How much will Mr. Nicholas’s investment be worth after 8 years?

Mr. Nicholas invested $4,250 into an account that pays 3.5% interest, compounded annually. How much will Mr. Nicholas’s investment be worth after 8 years?
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1 vote
Mr. Nicholas invested $4,250 into an account that pays 3.5% interest, compounded annually. How much will Mr. Nicholas’s investment be worth after 8 years?

asked
User Bigwebguy
by
7.7k points

1 Answer

4 votes

Answer:

$5596.44

Explanation:

$4250*(1.035)^8= $5596.44

answered
User Quang Lam
by
8.1k points
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