Register

Jill invested $20,000 in an account that earned 5.5% annual interest compounded annually, what is the value after 10 years

Jill invested $20,000 in an account that earned 5.5% annual interest compounded annually, what is the value after 10 years
asked 72.8k views
1 vote
Jill invested $20,000 in an account that earned 5.5% annual interest compounded annually, what is the value after 10 years

asked
User Sherona
by
8.6k points

2 Answers

4 votes

Value after 10 years = 20000(1 + 0.055)^10

= 34,162.89 dollars

answered
User Jens Borgland
by
7.7k points
2 votes
The answer would be $34,162.89
answered
User Sdra
by
7.7k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
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?
Link Copied!