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You deposit $1295 dollars in a mutual fund that provides an average return of 8.4% interest compounded annually. Find your account balance after 7 years.
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1 vote
You deposit $1295 dollars in a mutual fund that provides an average return of 8.4% interest compounded annually.

Find your account balance after 7 years.

User Anatoly Rr
by
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1 Answer

7 votes

Answer:

761.46

Explanation:

multiply 8.4% and 1295 which would equal 108.78...

then multiply it with 7 which would equal 761.46

User Plsgogame
by
4.2k points
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