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nofishing15 nofishing15
  • 02-04-2016
  • Mathematics
Answered

If $85 is put in an account that gets 8.5% and I add $15 per year, how much will I have at the end of 8 years?

Verified Answer :

mssarkar96 mssarkar96
  • 02-04-2016

FV=PV(1+i)^n

FV =$ [85(1+0.85)^8]

FV=$ [85(1.85)^8]

FV= $ 222.21

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