dalston4524 dalston4524

17-02-2020
Business

contestada

To what amount will $4 comma 900 invested for 9 years at 10 percent compounded annually accumulate?

Respuesta :

Olajidey Olajidey

19-02-2020

Answer:

=$11,553.94

≅$11,554

Explanation:

A = P(1 + r/1)^t

Given that

P = $4,900

r = 10%

t = 9years

= 4900 * (1 + 0.1)^9

= 4900 * 1.1^9

= 4900 * 2.3579

= $11553.94

≅ $11554

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