Mathematics for IGCSE & O level - Percentages (Section 6 - No. 35)
What is the value of the investment after four years if $1500 is invested in an account that earns compound interest of 4% annually?
$1747.34
$1760.00
$1750.00
$1560.00
Explication
A = P(1 + r/100)^n. A = 1500 * (1 + 4/100)^4 = $1747.34