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lightning1157blaze
10.02.2020 •
Mathematics
You deposit $700 in an account paying 7.7% simple interest. Find the future value of the investment after 2 years. (Enter a number. Round your answer to two decimal places.)
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Ответ:
The future value of the investment after 2 years is $807.8
Step-by-step explanation:
The formula for simple interest is expressed as
I = PRT/100
Where
P represents the principal or amount invested.
R represents interest rate
T represents time in years
I = interest after t years
From the information given
T = 2 years
P = $700
R = 7.7%
Therefore
I = (700 × 7.7 × 2)/100
I = 10780/100
I = 107.8
The total amount in the account after 2 years would be
700 + 107.8 = $807.8
Ответ:
idk
Step-by-step explanation: