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The expression 1000 (1.09)t represents the value of a ​$1000 investment that earns 99​% interest per​ year, compounded annually for t years. What is the value of a ​$1000 investment at the end of 66 ​years?
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The expression 1000 (1.09)t represents the value of a ​$1000 investment that earns 99​% interest per​ year, compounded annually for t years. What is the value of a ​$1000 investment at the end of 66 ​years?

User Tony The Pony
by
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1 Answer

4 votes
A=1000 (1.09)^t
Where t is the number of years
T=66 years
So the future value is
A=1,000×(1.09)^(66)
A=295,222.10
User Yuza
by
7.9k points
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