What is the future value of a $1,500 investment, earning 10 percent interest

per period, after two periods? (Round your answer to the nearest cent.)

Question

Taniya Mitchell

Mathematics

19 March, 20:02

What is the future value of a $1,500 investment, earning 10 percent interest

per period, after two periods? (Round your answer to the nearest cent.)

+5

Answers (2)

Know the Answer?

Augustus Harding · Answer 1

For 1 period

A=P (1+rt)

A=1500 (1 + (1*.1))

A=$1650

For 2 periods

A=$1800

The amount of interest earned each time is $150.

Max Morgan · Answer 2

The formula of compound interest is

A=p (1+r) ^t

A future value?

P present value 1500

R interest rate 0.1

T two periods 2

A=1,500 * (1+0.1) ^ (2) = > A=1,815

What is the future value of a $1,500 investment, earning 10 percent interestper period, after two periods? (Round your answer to the nearest cent.)

What is the future value of a $1,500 investment, earning 10 percent interest

per period, after two periods? (Round your answer to the nearest cent.)