brelynnewashington16 brelynnewashington16

02-12-2020
Mathematics

contestada

Aubree invested $500 into a mutual fund that paid 3% interest each year compounded annually. Find the value of the mutual fund in 12 years.

Respuesta :

facundobuzzetti facundobuzzetti

11-12-2020

Answer:

FV= $712.88

Step-by-step explanation:

Giving the following information:

Initial investment (PV)= $500

Number of periods (n)= 12 years

Interest rate (i)= 3% compounded annually

To calculate the future value, we need to use the following formula:

FV= PV*(1+i)^n

FV= 500*(1.03^12)

FV= $712.88

Answer Link

karaa69 karaa69

31-12-2020

Answer:

25%

Step-by-step explanation:

Because she divided it

Answer Link

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