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How much would $500 invest at 8% interest compounded annually be worth after 4 years? Your answer to the nearest cent. Do not include units in your answer

How much would $500 invest at 8% interest compounded annually be worth after 4 years? Your answer to the nearest cent. Do not include units in your answer
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4 votes
How much would $500 invest at 8% interest compounded annually be worth after 4 years? Your answer to the nearest cent. Do not include units in your answer

User Tetromino
by
8.2k points

1 Answer

4 votes
A=p (1+r)^r
A=800×(1+0.08)^(4)
A=1,088.39
User Matzahboy
by
8.1k points
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