kayanglin kayanglin

18-06-2017
Mathematics

contestada

If you save 4,500 at an interest rate of 13 percent per year how much will you have at the end of 7 years

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Aliwohaish12 Aliwohaish12

18-06-2017

Hi there
The formula of the compound interest is
A=p (1+r)^t
A future value?
P present value 4500
R interest rate 0.13
T time 7 years
So
A=4,500×(1+0.13)^(7)
A=10,586.72

Best of luck!

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