Question

An investment of $1,000 earns an annual interest rate of 7.6%. What is the final amount after 8 years of compounding interest? Use the formula A = Pert, where P is the initial investment, t is the time in years, and r is the rate of return.


Select one:


a. $1,505.00

b. $1,575.00

c. $1,536.75

d. $1,836.75

Answer 1

@kc_kennylau

Answer 2

@phi

Answer 3

I think this one is D am I correct

Answer 4

1796.79351 is what I got

Answer 5

My formula was wrong

Answer 6

D is correct

Answer 7

oh

Answer 8

It should be $1000 x e ^ (7.6% x 8)