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Need help I’m really dumb

Need help I’m really dumb-example-1
User Corbee
by
8.2k points

1 Answer

4 votes

Answer: 83485

=====================

Step-by-step explanation:

The formula we will use is

A = P*(1+r)^t

with

A = final amount = unknown (what we want to find)

P = starting amount = 24000

r = growth rate in decimal form = 0.12

t = number of years elapsed = 11 (since we go from 2014 to 2025)

Plug those values mentioned into the formula. Then use a calculator to simplify

A = P*(1+r)^t

A = 24000*(1+0.12)^11

A = 24000*(1.12)^11

A = 24000*3.47854999334551

A = 83485.199840292

A = 83485

The investment will be worth about 83485 dollars

User Jparimaa
by
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