SOLUTION: You have ​$440 in an account which pays 4.2 ​% compounded annually. If you invest your money for 7 ​years, then how many dollars of interest will you

Algebra ->  Finance -> SOLUTION: You have ​$440 in an account which pays 4.2 ​% compounded annually. If you invest your money for 7 ​years, then how many dollars of interest will you       Log On


   



Question 1100640: You have ​$440

in an account which pays 4.2
​%
compounded annually. If you invest your money for 7

​years, then how many dollars of interest will you earn by the end of the​ term?

Answer by jorel1380(3719) About Me  (Show Source):
You can put this solution on YOUR website!
440*((1+.042)^7 -1)=440x0.333748772529633541248=$146.85 interest
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