Alberto invested $5,000 at 6% interest compounded annually. What will be the value of Alberto's investment after 8 years?

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Moshezauros asked Jun 17, 2022

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4 votes

Alberto invested $5,000 at 6% interest

compounded annually. What will be the
value of Alberto's investment after 8 years?

Mathematics
high-school

Moshezauros asked Jun 17, 2022

by Moshezauros

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20 votes

Answer:

7400

Explanation:

Enenen answered Jun 17, 2022

by Enenen

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23 votes

Answer:

$7969.24

Explanation:

5000*1.06 to power of 8 = 7969.24037265

round to 2dp = $7969.24

Martin Brandl answered Jun 21, 2022

by Martin Brandl

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