michaellowe1981 michaellowe1981
  • 22-06-2021
  • Business
contestada

Otto invests $ 600 in an account that pays 7.3 % interest compounded annually. How much is in Otto's account after 3 years

Respuesta :

ewomazinoade ewomazinoade
  • 24-06-2021

Answer:

$741.23

Explanation:

The formula for calculating future value:

FV = P (1 + r)^n

FV = Future value  

P = Present value  

R = interest rate  

N = number of years

600(1.073)^3 = $741.23

Answer Link

Otras preguntas

Janelle's doctor warned her that she has extremely high blood pressure, which can lead to a variety of dangerous health problems. Which of the following should
60 is 25% of what number
a high pressure center is generally characterized by
Bill makes leather shoes. He charges $45 for a pair of women's shoes and $50 for a pair of men's shoes. He sells x pairs of women’s shoes and y pairs of men’s s
a testable possible explanation of an observation is know as a
Of the following numbers ,which one is prime,32,42,29,15!
Which principle keeps one state from denying the validity of a birth certificate that was issued by another state Supremacy Clause interstate compact division o
The peak intensity of radiation from Star Beta is 350 nm. What is the average surface temperature of Star Beta rounded to the nearest whole number? 121 K 6,547
The modern atomic model is also sometimes called the __________ model. a. solar system b. Bohr c. plum pudding d. quantum mechanics
In Alice's Adventures in Wonderland, why does Alice hope the creatures are going to ask riddles? A. She enjoys riddles and wants to have some fun. B. She