Answer:
$641.4
Step-by-step explanation:
500(1 + 0.025/4)⁴⁰
= 641.5134103
Answer:
$642
Step-by-step explanation:
Use the compound interest formula and substitute the correct values: A=500(1+0.025/4)[tex]^{4(10)}[/tex].
Simplify by using order of operations: A=500(1.00625)[tex]^{40}[/tex]=500(1.283026821) ≈ 642.
