You invest $32,000 in an account that earns 5.75% interest compounded yearly. What is the total amount of money you will have in the account after 20 years if you never deposit any additional funds?

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TheCottonSilk asked Dec 13, 2022

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7 votes

You invest $32,000 in an account that earns 5.75% interest compounded yearly. What is

the total amount of money you will have in the account after 20 years if you never
deposit any additional funds?

Mathematics
high-school

TheCottonSilk asked Dec 13, 2022

by TheCottonSilk

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7 votes

Answer:

$97,894.33.

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Kallen answered Dec 19, 2022

by Kallen

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