SOLUTION: Hannah invests money in a fund that promises to provide 10 percent interest each year. Write an expression to to show how much money Hannah has in her fund after one year, with p r
Algebra ->
Finance
-> SOLUTION: Hannah invests money in a fund that promises to provide 10 percent interest each year. Write an expression to to show how much money Hannah has in her fund after one year, with p r
Log On
Question 1044132: Hannah invests money in a fund that promises to provide 10 percent interest each year. Write an expression to to show how much money Hannah has in her fund after one year, with p representing the principal amount she invests. Simplify the expression. Supposed Hannah invests $1000 in the fund and leaves it there forn3 years. How much money will she have? Explain. Answer by addingup(3677) (Show Source):
You can put this solution on YOUR website! Amount after 1 year = P(1+0.10)^1
:
Hannah invests $1000 in the fund and leaves it there for 3 years:
1000(1+0.10)^3 = 1331
:
John
