You plan to invest $1,210 a year for 7 years at a 9 percent annually? How much will you have in 7 years? Assume the first investment is made in one year.

Question

asked Sep 13, 2023 112k views

1 Answer

Cannon · Answer 1 · 2023-09-18T08:03:32+0000

Answer:

See below

Explanation:

For SIMPLE interest :

1210 + 1210 * .09 * 7 = $ 1972.30

For ANNUAL COMPOUNDING of interest

1210 ( 1 + .09)^7 = $ 2211.93

I do not know which one you need....what are you studying presently?