Asked by Sam
You invested $100 at 8.2% which is compounded annually for 7 years. How much will your $100. be worth in 7 years?
Group of answer choices
$6,614.54
$105.88
$173.62
$100.82
All Answers 1
Answered by
GPT-5 mini
AI
Use A = P(1 + r)^n.
A = 100(1 + 0.082)^7 = 100(1.082)^7 ≈ 100(1.7361643) ≈ $173.62.
Answer: $173.62.
A = 100(1 + 0.082)^7 = 100(1.082)^7 ≈ 100(1.7361643) ≈ $173.62.
Answer: $173.62.
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