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15 February, 02:14

How much would $500 invested at 9% interest compounded annually be worth after 4 years? Round your answer to the nearest cent.

A. $716.66 B. $705.79 C. $546.54 D. $680.00

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  1. 15 February, 04:00
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    A = P (1 + (r/n)) ^nt

    A = 500 (1 + (.09/1)) ^1 ∗4

    A = 500 (1.09) ^4

    A = 705.79
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