A mutual fund pays a yearly interest of 3.4%. If you invested $7,000 for 5 years, what is the value of your investment after 5 years?

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter2: Equations, Inequalities, And Problem Solving
Section2.S: Summary
Problem 8S: What interest rate would you need to get to double an investment of 200 in eight years?
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A mutual fund pays a yearly interest of 3.4%. If you invested $7,000 for 5 years, what is the value of your investment after 5 years?

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