SOLUTION: How much would $500 invested at 7% interest compounded annually be worth after 4 years? Round your answer to the nearest cent. Do not include units in your answer.

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Question 286502: How much would $500 invested at 7% interest compounded annually be worth after 4 years? Round your answer to the nearest cent. Do not include units in your answer.
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
500(1+.07)^4
500*1.07^4
500*1.3108=$655.40 ANS.