An investment of $500 increases at a rate of 12.5% per year. What is the value of the investment after 30 years? Round to the nearest dollar.

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18-05-2018
Mathematics

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An investment of $500 increases at a rate of 12.5% per year. What is the value of the investment after 30 years? Round to the nearest dollar.

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TheBreeze TheBreeze · Answer 1 · 2018-05-23T03:47:02+02:00

TheBreeze TheBreeze

23-05-2018

Here's the equation:
0.125(500) + 500
But because it is 30 years:
30(0.125(500)) + 500
3.75(500) + 500
We can make it simpler:
4.75(500)
2375
You will have $2375

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