SOLUTION: If $1 were invested at 8 percent interest compounded annually, the total value of investement, in dollars at the end of 6 years would be A) 1.8^6 B)1.08^6 C)6(1.08) D)1+ 0.08

Question 822583: If $1 were invested at 8 percent interest compounded annually, the total value of investement, in dollars at the end of 6 years would be
A) 1.8^6
B)1.08^6
C)6(1.08)
D)1+ 0.08^6
E)1+6(0.08)
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
If $1 were invested at 8 percent interest compounded annually, the total value of investement, in dollars at the end of 6 years would be
-----------------
8% = 0.08
--> 1.08*AMT per year
--> AMT*1.08^6
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