The formula I use for interest is: fv=p*(1+int/c)^(n*t)
fv=future value
p=principal
interest
c=compound
nt= times/yr
This sum; at 8%; 5.5 yrs has a value of $977.26.
Remember to make the int into a fraction.
Cristina L.
asked 06/13/19Principal=640 , Rate=8% Time in years=5 one half
The formula I use for interest is: fv=p*(1+int/c)^(n*t)
fv=future value
p=principal
interest
c=compound
nt= times/yr
This sum; at 8%; 5.5 yrs has a value of $977.26.
Remember to make the int into a fraction.
640(1.08)5.5 = your answer
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