contestada

Alexander invested $240 in an account paying an interest rate of 2.3% compounded annually. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 9 years?

Respuesta :

madethisfortwitch1

Answer:

295

Step-by-step explanation:

To find this we use the following equation

AV=PV(1+i)^n

Where AV=  accumulated value

PV= present value

i= interest rate

so we have

AV=240(1+.023)^9

This is pretty easy to solve and we get

240*1.227

294.50

Which rounds to 295

cat23k

Answer:

i believe its 295

:)

Otras preguntas