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The expression represents the value of a $1500 investment that earns 12% interest per year,
compounded annually for t years. What is the value of a $1500 investment after 15 years?
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This expression is
y = = .
To find the value of $1500 after 15 years, substitute t= 15 into the expression
and use your calculator.
Solved.
Happy calculations (!)
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- Compounded interest percentage problems
- Problems on discretely compound accounts
in this site, and learn the subject from there.
After reading these lessons, you will tackle such problems on your own without asking for help from outside.