kasiasamp6158 kasiasamp6158

15-02-2018
Mathematics

contestada

Having $ 200$200 today is equivalent to having what amount in one year?

Respuesta :

CastleRook CastleRook

26-02-2018

Suppose the interest rate is 4%, the equivalent of $200 in one year will be:
A=P(1+r/100)^n
where:
p=principle amount
r=rate
n=time
Hence the amount in 1 year will be:
A=200(1+4/100)^1
A=$208
Therefore $200 today is equivalent of $208 in 1 year.

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