Question

A principal of $2600 is invested at 3% Interest, compounded annually. How much will the investment be worth after 14 years

Answer 1

3692

Step-by-step explanation:

Multiply the starting amount, by the percent, and them multiply by how many years (2600*0.03%*14)

Answer 2

It is 3932.73 since it will just be 2600 times by 1.03 for 3% interest to the power of 14 which makes it 2600 x 1.03^14 which then equals 3932.73