Respuesta :
Answer:
You would receive $510.08 in return.
Step-by-step explanation:
In order to find the answer, you can use the formula to calculate the future value:
FV=PV*(1+i)^n
FV=future value
PV= present value= 500
i= interest rate=0.03/12=0.0025 per month
n= number of periods of time= 8
Now, you can replace the values in the formula:
FV=500*(1+0.0025)^8
FV=500*(1.0025)^8
FV=510.08
According to this, the answer is that you would receive $510.08 in return.
Answer:
I think it is $15
Step-by-step explanation:
Taking the test now.
