EliabPierre EliabPierre
  • 19-08-2017
  • Mathematics
contestada

The expression 1500(1.07)^t represents the value of a $1500 investment that earns 7% interest per year, compounded annually for t years. what is the vaule of a $1500 investment at the end of 2 years?

Respuesta :

wolf1728
wolf1728 wolf1728
  • 19-08-2017
Total = Principal * (1 + rate) ^ years
Total = 1,500 * (1.07) ^ 2
Total = 1,717.35


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