226k views
4 votes
$21,000 at 13.6% compounded annually for 4 years.

1 Answer

4 votes

Answer

$34,972.98

Step-by-step explanation:

The amount after 4 years can be calculated as:


A=P(1+r)^n

Where P is the initial investment, r is the interest rate and n is the number of years. So, replacing P = $21,000, r = 13.6% = 0.136 and n = 4, we get:


\begin{gathered} A=21,000(1+0.136)^4 \\ A=34,972.98 \end{gathered}

Therefore, the answer is $34,972.98

User Droebi
by
7.6k points

No related questions found

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