If a person invests $250 at 9% annual interest, find the approximate value of the investment at the end of 15 years.

The value of the investment at the end of 15 years is $910.62

The formula to use in solving the question will be:

A = P(1+r)ⁿ

where,

A = Amount

P = Principal = $250

r = rate = 9%

n= number of years = 15

Putting the values into the formula will give:

A = P × (1+r)ⁿ

A = $250 × (1 + 9%)¹⁵

A= $250 × (1 + 0.09)¹⁵

A = $250 × 1.09¹⁵

A = $910.62

In conclusion, the value of the investment at the end of 15 years will be $910.62

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Assume compounding once per year. Then A = P(1+r)^t, where r is the annual interest rate as a decimal fraction and t is the number of years.

Then A = Value after 15 years = $250(1+0.09)^15 = $910.62

5.7622

step-by-step explanation:

the ten thousandths place is the 2. you round it up if, that number in whatever place is 5 or higher.