Math question help needed

User Generated

Ryyrel

Business Finance

Question Description

You have $440 in an account which pays 4.6% compounded annually. If you invest your money for 4 years, then how many dollars of interest will you earn by the end of the term?

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Explanation & Answer

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440*0.046*4=80

440[1.046]^4 =526

526-440=86


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Qnivq Z. (442)
UT Austin

Anonymous
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