Using the expression below, choose the correct answers for the new balance and the amount of interest earned in the following compound interest problem. P (1 + r) n $750 at 7% for 9 years, compounded annually.

Total Amount = $

Interest Amount = $

Question

Mathematics

Ana Coleman

27 July, 04:21

Using the expression below, choose the correct answers for the new balance and the amount of interest earned in the following compound interest problem. P (1 + r) n $750 at 7% for 9 years, compounded annually.

Total Amount = $

Interest Amount = $

+1

Answers (2)

Know the Answer?

Edwin Madden · Answer 1

A = 750 * (1+0.07) ^ (9)

A=1,378.84

interest earned 1378.84-750

=628.84

Lucy Ramsey · Answer 2

To set this equation up, you would do $750 (1+.07) ^9

If you solve that, the Interest Amount for the 9 years would be $1378.84

"It's been a long time since I did this, I honestly forgot how to find the total amount" "Sorry"

Using the expression below, choose the correct answers for the new balance and the amount of interest earned in the following compound interest problem. P (1 + r) n $750 at 7% for 9 years, compounded annually.Total Amount = $Interest Amount = $

Using the expression below, choose the correct answers for the new balance and the amount of interest earned in the following compound interest problem. P (1 + r) n $750 at 7% for 9 years, compounded annually.

Total Amount = $

Interest Amount = $