Question:
Solution:
Consider the following equation:
[tex]M=P(1+i)^n[/tex]
where
P = 870, i = 0.13 and n = 8. Thus, if we replace these data, in the previous equation, we obtain:
[tex]M=870(1+0.13)^8[/tex]
this is equivalent to:
[tex]M=2312.8[/tex]
Thus, the correct solution is:
[tex]M=2312.8[/tex]
