Answered: $11,000 is invested for 9 years at an…

$11,000 is invested for 9 years at an annual simple interest rate of 11%. (a) How much interest will be earned? $ (b) What is the future value of the investment at the end of the 9 years?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter7: Exponents And Exponential Functions

Section7.7: Writing Exponential Functions

Problem 8CYU

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Question

$11,000 is invested for 9 years at an annual simple interest rate of 11%.

(a) How much interest will be earned?
$

(b) What is the future value of the investment at the end of the 9 years?

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