Answer: 96418
Step-by-step explanation: you times 25000 by 3.85 then you times 14 by12 and add your answers
The value of an investment of $25,000 for 14 years at an annual interest rate of 3.85% is $35,475 .
"The interest rate is the amount a lender charges a borrower and is a percentage of the principal—the amount loaned. The interest rate on a loan is typically noted on an annual basis known as the annual percentage rate (APR).
An interest rate can also apply to the amount earned at a bank or credit union from a savings account or certificate of deposit (CD). Annual percentage yield (APY) refers to the interest earned on these deposit accounts."
Given,
Total amount is $25,000
Interest rate per annum is 3.85%
Value in 1 year is = [tex]25,000*3.85/100 = 962.5[/tex]
Value in 14 year is [tex]= 962.5 *14 = 13,475[/tex]
Value of investment = [tex]13,475 + 25000[/tex]
= 38, 475
Hence, the total value of investment is = $35,475
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