Use the compound interest formula to find the future value a for the following values p=$500,i=0.079,n=25 what is a=?

A= $3345.85

Step-by-step explanation:

Hello, thanks for leaving your question here at , I think I can help you with this.

to solve this you need to know the compound interest formula.

where

A=Amount(future value)

P=principal

r=interest rate(decimal)

n=number of times interest is compounded per unit "t"

usually the value of interests given corresponds to annual interests, and the time unit is a year

Step 1

define and put the values into the equation

A=?

P=$500

I=r=0.079

N=n=1

t=25

A= $3345.85

I hope it helps, Have a great day.