Answer:
The final investment value is [tex]\$1,620[/tex]
Step-by-step explanation:
we know that
The simple interest formula is equal to
[tex]A=P(1+rt)[/tex]
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest
t is Number of Time Periods
in this problem we have
[tex]t=20\ years\\ P=\$900\\r=4\%=4/100=0.04[/tex]
substitute in the formula above
[tex]A=900(1+0.04*20)[/tex]
[tex]A=900(1.8)[/tex]
[tex]A=\$1,620[/tex]
