Question

A principal of
$3900
is invested at
3.5%
interest, compounded annually. How much will the investment be worth after
7
years?
Use the calculator provided and round your answer to the nearest dollar.

Answer 1

\[C.I=P*(1+\frac{ r }{ 100 })^t\]

Answer 2

r=3.5
t=7

Answer 3

after 7 year investment= 3900 + C.I

Answer 4

After putting that last piece together I got 1.00492659.

Answer 5

THE ANSWER IS $4962

=·39001.03574961.88…
Rounded to the nearest dollar, we get
$4962
.

Answer 6

that is your compound interest
sum=3900+C.I