A community for students. Sign up today!
Here's the question you clicked on:
 0 viewing
 2 years ago
Suppose that you invest $100 today in a riskfree investment and let the 5 percent annual interest rate compound. Rounded to full dollars, what will be the value of your investment 6 years from now?
 2 years ago
Suppose that you invest $100 today in a riskfree investment and let the 5 percent annual interest rate compound. Rounded to full dollars, what will be the value of your investment 6 years from now?

This Question is Closed

IceCreamVan
 2 years ago
Best ResponseYou've already chosen the best response.0The formula for compound interest is given as: C.I. = Value of Investment * ((1+ (I.R./100))^n) C.I. is Compound Interest I.R. is the Interest Rate n is the number of years Value of Investment= $100 (1+ (I.R./100)) = 1+ 0.05 =1.05 n=6 Put that into the formula and its done!

IceCreamVan
 2 years ago
Best ResponseYou've already chosen the best response.0dw:1335969960344:dw
Ask your own question
Ask a QuestionFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.