$43,000 invested at a rate of 5% compounded annually for 3 years.

Question

asked Jul 18, 2022 49.4k views

1 Answer

Nominolo · Answer 1 · 2022-07-23T01:50:08+0000

ANSWER: $49,777.88

Reasoning: the equation is
y=43,000(1.05)^3

Do the math and then

y=43,000(1.157...)
y=49777.875

Then round to...
$49,777.88