Answered

Westonci.ca offers quick and accurate answers to your questions. Join our community and get the insights you need today. Get detailed and precise answers to your questions from a dedicated community of experts on our Q&A platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

Suppose that $3500 is placed in an account that pays 16% interest compounded each year. Assume that no withdrawals are made from the account. Follow the instructions below. Do not do any rounding.​

Sagot :

YoungEidOnYT
after one year. To do an investment question, we need to use the following formula: A(t) = a(1 + r)t, where:
A(t) = amount after time
a = initial value, $3500
r = rate (as a decimal), 0.16
t = amount of time, 1
Thank you for visiting our platform. We hope you found the answers you were looking for. Come back anytime you need more information. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.