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d. answer is wrong too, I put 4157.05, which is wrong. Please help with abcd answer. Thank you You invest $3,500 for three years at
d. answer is wrong too, I put 4157.05, which is wrong. Please help with abcd answer. Thank you
You invest $3,500 for three years at 8 percent. a. What is the value of your investment after one year? Multiply $3,500 x 1.08. Value of investment $ 3,564 X b. What is the value of your investment after two years? Multiply your answer to part a by 1.08. (Round your answer to 2 decimal places.) Value of investment $ 3,849.12 c. What is the value of your investment after three years? Multiply your answer to part b by 1.08. This gives your final answer. (Round your answer to 2 decimal places.) Value of investment $ 4,157.05 X d. Combine these steps using the formula FV = PV x (1 + i)" to find the future value of $3,500 in 3 years at 8 percent interest. (Round your answer to 2 decimal places.)Step by Step Solution
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