SOLUTION: A financial advisor recommends that a client deposit $2600 into a fund that earns 7.5% annual interest compounded monthly. What will be the value of the investment after 7 years? U

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: A financial advisor recommends that a client deposit $2600 into a fund that earns 7.5% annual interest compounded monthly. What will be the value of the investment after 7 years? U      Log On


   

Question 1175580: A financial advisor recommends that a client deposit $2600 into a fund that earns 7.5% annual interest compounded monthly. What will be the value of the investment after 7 years? Use the compound interest formula P = A(1 + i)n, where A is the original value of an investment, i is the interest rate per compounding period, n is the total number of compounding periods, and P is the value of the investment after n periods. Round to the nearest cent.

Answer by ikleyn(52772) About Me  (Show Source):
You can put this solution on YOUR website!
.

Having so clear instructions, provided in the text,

why don't you make these calculations on your own ?