jjrudolf8
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I NEED HELP ASAP. I WILL GIVE BRAINLIEST
A principal of $4000 is invested at 7.75% interest, compounded annually. How much will the investment be worth after 10 years? Use the calculator provided and round your answer to the nearest dollar.​

Respuesta :

madethisfortwitch1

Annually compoudning interest formula

PV(1+i)ⁿ

4000(1+.0775)¹⁰=8437.869021

which rounds to

$8437.87

If you were to do this on a financial calculator it would look like this:

N=10

I/Y=7.75

PV=4000

PMT=0

CMPT FV = same answer
Yup you just need to know the formula and plug in your numbers but first know the difference between interest and compound to know which formula you choosing ! Use a calculator most likely an app Calculate84 is a life saver ^^^ all the luck

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