Register
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.
201k views
4 votes
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.

User Redsandro
by
8.3k points

1 Answer

6 votes

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

User Ron Diel
by
6.7k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.0m questions

11.7m answers

Other Questions

What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Write words to match the expression. 24- ( 6+3)
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
Link Copied!