Ask Question
30 May, 08:13

How much would $500 invested at 9% interest compounded annually be worth after 4 years? Round your answer to the nearest cent.

A. $716.66 B. $705.79 C. $546.54 D. $680.00

+1
Answers (1)
  1. 30 May, 08:24
    0
    A = P (1 + (r/n)) ^nt

    A = 500 (1 + (.09/1)) ^1 ∗4

    A = 500 (1.09) ^4

    A = 705.79
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “How much would $500 invested at 9% interest compounded annually be worth after 4 years? Round your answer to the nearest cent. A. $716.66 ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers