Respuesta :
Answer: Zane will have approximately $4,413.97 in 4 years.
Explanation: To calculate the amount Zane will have in 4 years with 11% interest compounded annually, we use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = the future value of the investment/loan, including interest
P = the principal investment amount (the initial deposit or loan amount)
r = the annual interest rate (decimal)
n = the number of times that interest is compounded per year
t = the time the money is invested for, in years
In this case:
P = $3,000
r = 11% = 0.11
n = 1 (compounded annually)
t = 4 years
Plugging these values into the formula:
A = 3000(1 + 0.11/1)^(1*4)
A = 3000(1 + 0.11)^4
A ≈ $4,413.97
So, Zane will have approximately $4,413.97 in 4 years.
you’re welcome:)
Explanation: To calculate the amount Zane will have in 4 years with 11% interest compounded annually, we use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = the future value of the investment/loan, including interest
P = the principal investment amount (the initial deposit or loan amount)
r = the annual interest rate (decimal)
n = the number of times that interest is compounded per year
t = the time the money is invested for, in years
In this case:
P = $3,000
r = 11% = 0.11
n = 1 (compounded annually)
t = 4 years
Plugging these values into the formula:
A = 3000(1 + 0.11/1)^(1*4)
A = 3000(1 + 0.11)^4
A ≈ $4,413.97
So, Zane will have approximately $4,413.97 in 4 years.
you’re welcome:)
