72.8k views
18 votes
A principal of $2600 is invested at 3% Interest, compounded annually. How much will the investment be worth after 14 years

User LuiCami
by
8.2k points

2 Answers

10 votes

Answer:

3692

Step-by-step explanation:

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

User Pratik Vekariya
by
8.3k points
3 votes
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
User Gerben Jacobs
by
8.6k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories