SOLUTION: if a person invests 290 at a 6% annual interest, find the approximate value of the investment at the end of 15 years

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Question 1041666: if a person invests 290 at a 6% annual interest, find the approximate value of the investment at the end of 15 years
Found 2 solutions by Alan3354, stanbon:
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
Depends on the compounding period, if any.

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
if a person invests 290 at a 6% annual interest, find the approximate value of the investment at the end of 15 years
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Simple interest::
A(t) = P(1+rt)
A(15) = 290(1+0.06*15) = $551
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Cheers,
Stan H.
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