diablo9142 diablo9142
  • 26-04-2021
  • Mathematics
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A 50,000 investment earns 18 percent annually. If b represents the balance and t represents the number of years

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Parrain
Parrain Parrain
  • 27-04-2021

Answer: B = 50,000 * 1.18^t

Step-by-step explanation:

This requires the use of the Future Value formula.

Future value = Amount invested + ( 1 + rate) ^ number of years invested

Future value = B in this scenario.

t = number of years.

When putting in figures therefore, the formula becomes:

B = 50,000 * ( 1 + 18%) ^ t

B = 50,000 * 1.18^t

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