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A principal of 3400 is invested at 8 percent interest , compounded annually . How much will the investment be worth after 12 years. Round to the nearest dollar

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解答

Aprincipalof3400isinvestedat8percentinterest,compoundedannually.Howmuchwilltheinvestmentbeworthafter12years.Roundtothenearestdollar

解答

Amount:8561.78
求解步骤
Translate the problem into an equation:A=3400(1+10.08​)1⋅12
3400(1+10.08​)1⋅12=8561.77839…
Round to the nearest hundredth:8561.78
Amount:8561.78

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