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Pat invested x dollars in a fund that paid 8 % annual

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Joined: 03 Jul 2008
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Pat invested x dollars in a fund that paid 8 % annual [#permalink] New post 12 Jul 2008, 07:52
Pat invested x dollars in a fund that paid 8 % annual interest compounded annually. Which of the following represents the value, in dollars, of Pat's investment plus interest at the end of 5 years?

(a) 5(0.08x)
(b) 5(1.08x)
(c) [1 + 5(0.08)]x
(d) (1.08)^5 x
(e) (1.08x)^5

please don't forget your explanations. very very important
:wink:
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Re: Pat and her investments [#permalink] New post 12 Jul 2008, 08:44
D

thats the formula... A = P(1+r/100)^n

A = Final amount
P = inital amount
r = rate of interest in %
n = number of periods
Re: Pat and her investments   [#permalink] 12 Jul 2008, 08:44
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Pat invested x dollars in a fund that paid 8 % annual

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