SOLUTION: If $1 were invested at 8 percent interest compounded annually, the total value of investement, in dollars at the end of 6 years would be
A) 1.8^6
B)1.08^6
C)6(1.08)
D)1+ 0.08
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-> SOLUTION: If $1 were invested at 8 percent interest compounded annually, the total value of investement, in dollars at the end of 6 years would be
A) 1.8^6
B)1.08^6
C)6(1.08)
D)1+ 0.08
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Question 822583: If $1 were invested at 8 percent interest compounded annually, the total value of investement, in dollars at the end of 6 years would be
A) 1.8^6
B)1.08^6
C)6(1.08)
D)1+ 0.08^6
E)1+6(0.08) Answer by Alan3354(69443) (Show Source):
You can put this solution on YOUR website! If $1 were invested at 8 percent interest compounded annually, the total value of investement, in dollars at the end of 6 years would be
-----------------
8% = 0.08
--> 1.08*AMT per year
--> AMT*1.08^6
