angelicaa70
contestada


Justyna invested $1500 in an account at a 2.5% interest rate compounded annually. She made no deposits or withdrawals on the
account for 7 years. Determine, to the nearest dollar the balance in the account after the 7 years.
4.200

Respuesta :

madethisfortwitch1

Answer:

$1783.03

Step-by-step explanation:

Annually compounding interest formula:

PV(1+i)ⁿ

1500(1+.025)⁷

1500(1.025)⁷

1783.028631

which rounds to

1783.03

xiligxn

Answer:

$1783.03

Step-by-step explanation:

You use the formula for finding the interest rate.

So 1500(1+.025)^7

Which you put that in a calculator and it comes to out to 1783.0286. Then just round up.

Hope this helps

Brainliest would be appreciated

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