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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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1 vote
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?

User Martin Rohwedder
by
6.6k points

1 Answer

6 votes

Answer:

$97,894.33.

Step-by-step explanation

User Manish Dubey
by
5.7k points
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