An investment of 2700 is made for 8 months at an annual simple interest rate of 2.25% what is the future value of the investment (in dollars)

Respuesta :

Okay, here we have this:

Considering the provided information, we are going to calculate the requested amount, so we obtain the following:

Let's replace in the following simple interest formula: A = P(1 + rt)

[tex]\begin{gathered} A=2700\mleft(1+\frac{2.25}{100}\times\frac{8}{12}\mright) \\ A=2700\mleft(1+0.0225\times0.666667\mright) \\ A=$2,740.50$ \end{gathered}[/tex]

Finally we obtain that the future value of the investment is $2740.5.

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