A principal of $2000 is invested at 6% Interest, compounded annually. How much will the investment be worth after 11 years round your answer to the nearest dollar.

Question

asked May 25, 2021 201k views

1 Answer

Ron Diel · Answer 1 · 2021-05-29T18:39:30+0000

Answer:

A=3797 dollars

Explanation:

A=P(1+r)^t t=time period, r is the rate, P is the principal

A=2000(1+0.06)^11

A=3797 dollars