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.

Question

asked May 25, 2021 8.1k views

1 Answer

Plsgogame · Answer 1 · 2021-05-30T08:22:32+0000

Answer:

761.46

Explanation:

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

then multiply it with 7 which would equal 761.46