182k views
2 votes
Use A= P(1+r/n)^nt to solve. How much will you have after a $5,000 investment at 2% interest compounded annually for 50 years?

User Masonjarre
by
8.1k points

2 Answers

5 votes
Start by setting up your equation like this
A = 5,000(1+(0.02/1))^1*50
then solve
A = 5,000(1.02)^50
A = $13,457.94

User Rehno Lindeque
by
7.9k points
3 votes
You will have $13457.94 after 50 years
User Chintamani Manjare
by
7.7k points

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