SOLUTION: $1,000 is being compounded for 3 years, so your balance on January 1, 2007, is $1,259.71:
FV to the lower n power = PV(1+i)^n = $1000(1+0.08)^3 = 1259.71
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-> SOLUTION: $1,000 is being compounded for 3 years, so your balance on January 1, 2007, is $1,259.71:
FV to the lower n power = PV(1+i)^n = $1000(1+0.08)^3 = 1259.71
I need some help w
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Question 89310: $1,000 is being compounded for 3 years, so your balance on January 1, 2007, is $1,259.71:
FV to the lower n power = PV(1+i)^n = $1000(1+0.08)^3 = 1259.71
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