Question

Please help me ^.^

Answer 1

A principal of $2,700 is invested at 7.75% interest, compounded annually. How much will the investment be worth after 12 years?

Answer 2

Round your answer to the nearest dollar.

Answer 3

Use the formula:

\(\bf{A=P(1+\frac{r}{n})^{nt}}\)

`p = 2700`
`r = .0775`
`n = 1`
`t = 12`

Answer 4

A = 2700(1+ .0775/1)^1/12

Answer 5

Is that right? not sure how I should of done the exponents

Answer 6

@563blackghost

Answer 7

Instead of `1/12` it would be `1 * 12`, other than that it is correct.

Answer 8

Oh alright thanks... so what now?

Answer 9

just simplify.

\(\large\bf{A=2700(1.0775)^{12}}\)

\(\bf{A=2700 (2.449104)}\)

\(\large\bf\color{red}{A=?}\)