Question 176758: Can someone please, please help me with this problem:
What amount of cash would result at the end of one year, if $17,000 is invested today and the rate of return is 10%?
a. $17,000
b. $18,530
c. $18,700
d. none of the above
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! What amount of cash would result at the end of one year, if $17,000 is invested today and the rate of return is 10%?
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A = P(1 + rt)
Amount = 17000(1 + 0.1*1)
Amount = 17000(1.1) = 18.700
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Cheers,
Stan H.
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