1 Answer

Aigars Matulis · Answer 1 · 2022-07-17T13:23:17+0000

Answer:

841.53

Explanation:

equation for annual intrest is

I*y^x=f

where I is your initial amount, y is equal to
1+(interest /100)

and x is equal to the amount of years you're looking for, with f being the final balance

so for this questions, the equation is as follows

$600*(1+7/100)^5=f\\600*1.07^5=f\\600*1.40255=f\\841.53=f\\$

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