SOLUTION: The expression represents the value of a $1500 investment that earns 12% interest per year, compounded annually for t years. What is the value of a $1500 investment after 15 years

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Question 1199702: The expression represents the value of a $1500 investment that earns 12% interest per year, compounded annually for t years. What is the value of a $1500 investment after 15 years?
Answer by ikleyn(52770) About Me  (Show Source):
You can put this solution on YOUR website!
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The expression represents the value of a $1500 investment that earns 12% interest per year,
compounded annually for t years. What is the value of a $1500 investment after 15 years?
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This expression is

    y = 1500%2A%281+%2B+0.12%29%5Et = 1500%2A1.12%5Et.


To find the value of $1500 after 15 years, substitute t= 15 into the expression 
and use your calculator.

Solved.

Happy calculations (!)

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    - Compounded interest percentage problems
    - Problems on discretely compound accounts
in this site,  and learn the subject from there.


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