2 years ago

Need help Now! will brainliest right answer!!

Mathematics

1 answer:

mariarad [96]2 years ago

3 0

A
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2 years ago

$1000 invested with compound interest at a rate of 15% per year for 9 years.

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The Final Investment Value is $\$3,517.88$

Step-by-step explanation:

we know that

The compound interest formula is equal to

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

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n is the number of times interest is compounded per year

in this problem we have

$t=9\ years\\ P=\$1,000\\ r=0.15\\n=1$

substitute in the formula above

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