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14 November, 06:23

An investment of $500 increases at a rate of 12.5% per year. What is the value of the investment after 30 years? Round to the nearest dollar.

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  1. 14 November, 06:38
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    Here's the equation:

    0.125 (500) + 500

    But because it is 30 years:

    30 (0.125 (500)) + 500

    3.75 (500) + 500

    We can make it simpler:

    4.75 (500)

    2375

    You will have $2375
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