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A principal of $2200 is invested at 6.5% interest, compounded annually. How much will the investment be worth after 5 years? round your answer to the nearest dollar.

A principal of $2200 is invested at 6.5% interest, compounded annually. How much will the investment be worth after 5 years? round your answer to the nearest dollar.
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A principal of $2200 is invested at 6.5% interest, compounded annually. How much will the investment be worth after 5 years?

round your answer to the nearest dollar.

User David Leonard
by
8.0k points

1 Answer

6 votes
A(5)=

2200 * {(1 + 0.065)}^(5)
=$3014
User Michael Wolf
by
8.9k points
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