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If you open an account that pays 3% interest, compounded annually, by depositing $10,000 today, then what is the value of the account in 20 years

If you open an account that pays 3% interest, compounded annually, by depositing $10,000 today, then what is the value of the account in 20 years
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If you open an account that pays 3% interest, compounded annually, by depositing $10,000 today, then what is the value of the account in 20 years

User Geomagas
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1 Answer

12 votes
F = $10,000(0.97)-20

F = $10,000(1.03)20

F = $10,000(0.97)20

F = $10,000(1.03)-20
User Jon Hoffman
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