brazzydoll1234
brazzydoll1234 brazzydoll1234
  • 25-03-2022
  • Mathematics
contestada

Determine the Future Value (FV) of your account, after 2 years, if you invest $7580 in an account that pays a simple interest of 6%.

Respuesta :

palazzolorachel palazzolorachel
  • 25-03-2022

Answer:

8489.6

Step-by-step explanation:

We know that:

[tex]T=2\\ P=7580\\ R=6\ percent[/tex]

Substitute into formula

[tex]T=2\\ P=7580\ into\ formula\\ R=6\ percent\\ F=P+prt\\ F=7580+7580rt[/tex]

Calculate

[tex]7580\times(1+0.06\times2)[/tex]

Calculate the product or quotient

[tex]7580\times(1+0.12)[/tex]

Calculate the sum or difference

[tex]7580\times1.12[/tex]

Calculate the product or quotient

[tex]8489.6[/tex]

I hope this helps you

:)

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