If $P Is Invested for N Years at Rate I

question 103

Multiple Choice

If $P is invested for n years at rate i (as a decimal) , compounded annually, the future value that accrues is given by , and the interest earned is . Find I for the given P, n, and i. Round your answer to two decimal places. ​
$2,400 for 9 years at 8%
​

• A)$4,797.61
• B)$2,042.23
• C)$1,133.19
• D)$2,397.61
• E)$7,197.61

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