Question

How much would $500 invested at 8% interest compounded annually be

worth after 4 years? Round your answer to the nearest cent.

Answer 1

$680.24

Explanation:

a p e x :))

Answer 2

The answer is $680.24

Here is the work:

A(4) = 500(1+(0.08/1))^(1*4)

A(4) = 500(1.08)^4

A(4) = $680.24