How much would $200 invested at 7% interest compounded annually be worth after 5 years? round your answer to the nearest cent. do not include units in your answer

Compounded amount after 5 years (A) = $280.51

Step-by-step explanation:

Given: P = $200, r = 7% = 7/100 = 0.07, n = 5 years

Compounded amount after 5 years (A) = P(1 +r)^n

Now plug in the given values in the above formula, we get

A = 200(1 + 0.07)^5

A = 200*(1.07)^5

A = 200 *1.4025517307

A = $280.51

Compounded amount after 5 years (A) = $280.51

Hope this will helpful.

Thank you.

30

step-by-step explanation:

idk

i hope i