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A principal of $3700 is invested at 4.75% interest, compounded annually. How much will the investment be worth after 9 years?

A principal of $3700 is invested at 4.75% interest, compounded annually. How much will the investment be worth after 9 years?
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A principal of $3700 is invested at 4.75% interest, compounded annually. How much will the investment be worth after 9 years?

User Aarona
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1 Answer

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Amount = 3,700 * (1.0475)^9
Amount = 3,700 * 1.5184003135
Amount = 5,618.08

User Ndequeker
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8.2k points
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