Register
A principal of $2500 is invested at 8.25% interest, compounded annually. How much will the investment be worth after 11 years? Use the calculator provided and round your answer to the nearest dollar.
215k views
5 votes
A principal of $2500 is invested at 8.25% interest, compounded annually. How much will the investment be worth after 11 years? Use the calculator provided and round your answer to the nearest dollar.

User Asunrey
by
4.3k points

1 Answer

1 vote

Answer:

$5979

Explanation:

8.25% = 0.0825

1.0825^11 = 2.3917

2.3917 * 2500 = 5979.25 = 5979

User Habib Zare
by
5.1k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.6m questions

7.3m answers

Other Questions

What is the value of x? (-4) - x = 5
1/7 + 3/14 equivalent fractions
185g in the ratio 2:3
(3x1,000,000)+(3x100,000)+(2x100) what is this number written in standard form?
The function h = -t2 + 95 models the path of a ball thrown by a boy where h represents height, in feet, and t represents the time, in seconds, that the ball is in the air. Assuming the boy lives at sea
Link Copied!