Suppose you put $500 into a bank account today. interest is paid annually and the annual interest rate is 3 percent. the future value of the $500 after 1 year is

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asked Oct 22, 2018 41.4k views

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Suppose you put $500 into a bank account today. interest is paid annually and the annual interest rate is 3 percent. the future value of the $500 after 1 year is

Business
high-school

Kedves Hunor asked

by Kedves Hunor

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1 Answer

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A=p (1+r)^t
A=500×(1+0.03)^(1)
A=515

Jerome Indefenzo answered Oct 28, 2018

by Jerome Indefenzo

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