Use the Compound Interest Formulas A $$A = P \left( 1 + \frac { r } { n } \right) ^ { n t }$$

question 53

Multiple Choice

Use the compound interest formulas A $$A = P \left( 1 + \frac { r } { n } \right) ^ { n t }$$ and A = Pert to solve.
-Find the accumulated value of an investment of $20,000 at 5.75% compounded annually for 7 years.

• A) $27,971.27
• B) $29,579.62
• C) $26,900.00
• D) $28,050.00