sarbjit879
27.07.2021 •
Mathematics
HELLOPPPPP PLEASE
Madeline invests $25,000 in an account that offers a compound interest rate
of 9.5% per year. Which of the following is the correct equation for how much
Madeline will have in year 8?
Solved
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Ответ:
Use this equation: Amount after years=Initial investment*(1+Interest rate/time compounded yearly)^number of years*times compounded yearly
So A=25,000(1+.095/1)^8*1
Simplify
A=25000(1.095)^8
Simplify
A=25000(2.07)
Solve
A=$51,671.73
This equation can be used for all problems of this type.
Ответ: