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

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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2 votes
Alberto invested $5,000 at 6% interest

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

User Sergii Lagutin
by
7.6k points

2 Answers

4 votes

Answer:

7400

Explanation:

User Objmagic
by
8.5k points
4 votes

Answer:

$7969.24

Explanation:

5000*1.06 to power of 8 = 7969.24037265

round to 2dp = $7969.24

User Rajib Deb
by
8.7k points
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