A principal of $4900 is invested at 3.5% interest, compounded annually. How much will the investment be worth after 15 years?

Question

A principal of $4900 is invested at 3.5% interest, compounded annually. How much will the investment be worth after 15 years?

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Hadley 2 weeks 2021-09-08T20:59:44+00:00 2 Answers 0

Answers ( )

    0
    2021-09-08T21:01:13+00:00

    Answer:

    25725

    Step-by-step explanation:

    Well, I decided to multiply 4900 by .35 because we turn 3.5% into .35, then I got 1715. I got 1715 and multiplied it with 15, with a result of 25725.

    I hope I helped and sorry if I’m wrong. 🙂

    0
    2021-09-08T21:01:19+00:00

    Answer:

    $2572.50

    Step-by-step explanation:

    This is because the formula for simple interest is p x r x t.

    You would do 4,900 x 3.5% x 15, which equals 2572.5.

    That would give you the simple interest of the investment.

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45:7+7-4:2-5:5*4+35:2 =? ( )