marpinco9850 marpinco9850
  • 12-09-2022
  • Business
contestada

What is the future value of $3,048 invested for 8 years at 5.7 percent compounded annually?

Respuesta :

tutorconsortium344
tutorconsortium344 tutorconsortium344
  • 14-09-2022

$4,749.14 is the future value of $3,048 invested for 8 years at 5.7 percent compounded annually.

What is compound?

Compound interest, also known as interest on principal and interest, is the practice of adding interest to the principal amount of a loan or deposit.

Therefore,

$4,749.14 is the future value of $3,048 invested for 8 years at 5.7 percent compounded annually.

To learn more about compound from the given link:

https://brainly.com/question/26487468

#SPJ4

Answer Link

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