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Jill invested $20,000 in an account that earned 5.5% annual interest compounded annually, what is the value after 10 years
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Jill invested $20,000 in an account that earned 5.5% annual interest compounded annually, what is the value after 10 years

User Sherona
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2 Answers

4 votes

Value after 10 years = 20000(1 + 0.055)^10

= 34,162.89 dollars

User Jens Borgland
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2 votes
The answer would be $34,162.89
User Sdra
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