What would the final value be? The final value is $(Round to the nearest cent as needed.)Use the compound interest formula to determine the final value of the givenamount.$400 at 7% compounded annually for 8 yearsEnter your answer in the answer box.sponse. Shaur responseMacBook Proesc80888DIIF1F2F3F4F5F6F7@2#$%&*一23478QWEYUtabASDFGHJps lock< cO

Answered: Image /qna-images/answer/e2dcab1b-73a9-4de7-9c91-417183e111bd.jpg

Answered: Use the compound interest formula to…

Use the compound interest formula to determine the final value of the given The final value is S (Round to the nearest cent as needed.) amount. $400 at 7% compounded annually for 8 years

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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Concept explainers

Power Operation

Power operation is topic of algebra in Math. It is use to represent repeated multiplication. Very big number and very small number can be easily express using power operation. Power operation is useful in many fields. In space engineering, it helps in representing the distance or size of particular heavenly body. In medical field, it is used to represent very small size. In medical field it helps to mention size of bacteria or virus.

Exponents

The exponent or power or index of a variable/number is the number of times that variable/number is multiplied by itself.

Question

What would the final value be?

The final value is $
(Round to the nearest cent as needed.)
Use the compound interest formula to determine the final value of the given
amount.
$400 at 7% compounded annually for 8 years
Enter your answer in the answer box.
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