If $500 is invested at 4% interest, compounded annually, then after n years the investment is worth ", 500 (1.04)" dollars. Find the size of investment after 6 years. = $421.43 $632.66 $1,063.30 $612.19 $806.51 $532.72

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 1C
icon
Related questions
Question
If $500 is invested at 4% interest, compounded annually, then after years the
500 (1.04)" dollars. Find the size of investment after 6 years.
investment is worth ª
$421.43
$632.66
$1,063.30
$612.19
$806.51
$532.72
=
Transcribed Image Text:If $500 is invested at 4% interest, compounded annually, then after years the 500 (1.04)" dollars. Find the size of investment after 6 years. investment is worth ª $421.43 $632.66 $1,063.30 $612.19 $806.51 $532.72 =
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Calculus For The Life Sciences
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College