SOLUTION: A principal of $4200 is invested at
8.5% interest, compounded annually. How much will the investment be worth after 9 years?
Use the calculator provided and round your answer
Algebra ->
Percentage-and-ratio-word-problems
-> SOLUTION: A principal of $4200 is invested at
8.5% interest, compounded annually. How much will the investment be worth after 9 years?
Use the calculator provided and round your answer
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Question 1030486: A principal of $4200 is invested at
8.5% interest, compounded annually. How much will the investment be worth after 9 years?
Use the calculator provided and round your answer to the nearest dollar. Answer by Cromlix(4381) (Show Source):
You can put this solution on YOUR website! Hi there,
100% + 8.5%
= 108.5%
108.5% = 108.5/100 = 1.085 (factor)
$4,200 x 1.085^9
= $8752.
Hope this helps :-)
