A principal of $3000 is invested at 5% interest, compounded annually. How much will the investment be worth after 12 years? Use the calculator provided and round your answer to the nearest dollar.

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question

asked Mar 28, 2021 191k views

2 votes

A principal of $3000 is invested at 5% interest, compounded annually. How much will the investment be worth after 12 years?

Use the calculator provided and round your answer to the nearest dollar.

Mathematics
high-school

EmerG asked

by EmerG

5.4k points

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

2 votes

Answer:

The investment will be worth $5,388.00 after 12 years.

Explanation:

$3000 * 1.05^(12)\\=5387.57$

Ramin Darvishov answered Apr 1, 2021

by Ramin Darvishov

5.0k points

0 Comments

Please log in or register to add a comment.

Ask a Question

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.8m questions

7.5m answers

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

0 Comments

Please log in or register to add a comment.

Other Questions