Mathematics for IGCSE & O level - Percentages (Section 3 - No. 6)
If $1500 is invested in an account with 4% compound interest annually, what is the value after 4 years?
$1650
$1749.78
$1750
$1800
Explicació
Using the formula A = P(1 + r/100)^n, we get A = 1500(1 + 4/100)^4 = $1749.78.