Mathematics

Anton Gates

30 April, 23:10

The amount of money, A, accrued at the end of n years when a certain amount, P, is invested at a compound annual rate, r, is given by the equation A = P (1+r) n. When Joseph invests $500 in an account that pays 9% interest compounded annually, what is Joe's approximate balance after 7 years? Question 9 options: a) $258.38 b) $3815.00 c) $914.02 d) $932.54

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