GismuelEcarts
GismuelEcarts GismuelEcarts
  • 21-06-2016
  • Mathematics
contestada

How much would $200 invested at 6% interest compounded annually be worth after 5 years? Round your answer to the nearest cent.

Respuesta :

Аноним Аноним
  • 28-06-2016
To determine the future worth (F) of money invested at present with interest (i) that is compounded annually, the formula is, 
  
                                       F = P x (1 + i)^n

where P is the present value of money. Substituting the known values, 
 
                             F = ($200) x (1 + 0.06)^5 = $267.645

Thus, the future worth of money is approximately $267.65. 
Answer Link
Ckaranja
Ckaranja Ckaranja
  • 03-07-2016
A=[tex] p(1+r/100)^{t} [/tex]
A=200(1+0.06[tex] )^{5} [/tex]
A=267.65

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