How much would $500 invested at 8% interest compounded annually be worth after 4 years? Round to the nearest cent. A(t) = P(1 + r/n)^(nt).
Added by Felipe B.
Step 1
08) n = the number of times interest is compounded per year (1, since it's compounded annually) t = the number of years (4) Now, we can plug these values into the formula: Show more…
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