If $P Is Invested for N Years at Rate I

question 20

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. $800 for 16 years at 9.75%

• A) $3544.56
• B) $2744.56
• C) $3090.16
• D) $4344.56
• E) $2429.67

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