Sue now has $490. How much would she have after 8 years if she leaves it invested at 8.5% with annual compounding? Answer
a.
$1,148.14
b.
$837.58
c.
$941.10
d.
$1,157.55
e.
$724.64

c.$941.10

Explanation:

Calculation for How much would she have after 8 years

Using this formula

FV = PV(1+i)^n

FV represent future value

PV represent present value

i represent interest rate

n represent number of periods

Let plug in the formula

FV = 490(1 + .085)^8

FV= $941.10

Therefore How much would she have after 8 years will be $941.10

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