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What is the value of 500$ invested at 4% interest compounded annually for 7 years

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asked Nov 22, 2021 151k views

4 votes

What is the value of 500$ invested at 4% interest compounded annually for 7 years

Mathematics
college

Robinsax asked

by Robinsax

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1 Answer

4 votes

Answer:

657.96

Explanation:

use formula A=P(1+r/n)^nt

A=500(1+.04/1)^1*7

A=500(1.04)^7

A=500(1.3159~)

A= 657.96~

Plonetheus answered Nov 28, 2021

by Plonetheus

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