Question

The expression 1000(1.1)^t represents the value of a $1000 investment that earns 10% interest per year, compounded annually for t years. What is the value of a $1000 investment at the end of 4 years? Do not use a unit label or comma when enter the answer

Answer 1

After 4 years
the value = 1000 × (1.1)⁴
the value = 1000 × 1.4641
the value = 1464.1

Answer 2

Answer: 1464.1

Step-by-step explanation:

Given : The expression $1000(1.1)^t$ represents the value of a $1000 investment that earns 10% interest per year, compounded annually for t years.

To find the  value of a $1000 investment at the end of 4 years, we substityte x = 4 in the given expression , then

$1000(1.1)^4=1464.1$

Therefore, the value of a $1000 investment at the end of 4 years = 1464.1